Late return filers may be allowed entry into ATL
Late return filers of income tax may soon have the opportunity to be included in the Active Taxpayers List (ATL) following proposed amendments to tax laws.
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Tag: Finance Act 2018
Inward remittances above Rs10 million per year require to explain source
The Federal Board of Revenue (FBR) in Pakistan is now scrutinizing the source of foreign remittances when the inward transfer exceeds Rs10 million to a recipient in a year.
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FBR issues withholding tax card for year 2018/2019
KARACHI: Federal Board of Revenue (FBR) has issued withholding tax card for tax year 2018/2019 as per the amendments made through Finance Act, 2018 to Income Tax Ordinance, 2001. 1. Where the taxable income does not exceed Rs. 400,000: the tax rate shall be 0%. 2. Where the taxable income exceeds Rs.400,000 but does not […]
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