2019/2020: FBR explains withholding tax on profit on debt

ISLAMABAD: Federal Board of Revenue (FBR) has explained levy of withholding tax on profit on debt for tax year 2019/2020 applicable from July 01, 2019. Read more »

FBR issues withholding tax rates on cash, online banking transactions

KARACHI: Federal Board of Revenue (FBR) has issued withholding tax card for tax year 2019/2020 and prescribed the rate of withholding income tax to be deducted/collected on transactions made through banking system... Read more »

FBR explains federal excise duty on edible oils

ISLAMABAD: Federal Board of Revenue (FBR) has issued explanation to implementation of federal excise duty on edible oils. Read more »

Persons not appearing in ATL will pay 100 percent increased withholding tax rate: FBR

KARACHI: Persons whose names are not appearing in the Active Taxpayers List (ATL) will be subjected to hundred percent increased rate of withholding tax, Federal Board of Revenue (FBR) said in a... Read more »

Unexplained foreign remittances will be subject to tax: FBR

ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday said that unexplained foreign remittances will be subject to income tax. Read more »

FBR sets 200pc penalty for offshore tax evasion

ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday said the amended income tax law attract 200 percent penalty amount of tax evaded in cases of undeclared offshore assets. Read more »

FBR makes mandatory purchase of immovable property through banking channel

ISLAMABAD: Federal Board of Revenue (FBR) has made mandatory the purchase of immovable property of fair market value above Rs5 million through banking channel. Read more »

FBR notifies revision in exemption regime under sales tax laws

ISLAMABAD: Federal Board of Revenue (FBR) has issued changes brought through Finance Act, 2019 in exemption regime under Sixth Schedule of the Sales Tax Act, 1990. Read more »

Imported consumer items to be cleared on declared retail prices: FBR

ISLAMABAD: Federal Board of Revenue (FBR) has said that the consumers items falling under mandatory retail price print will be assessed at declared retail price at clearance stage instead of determination through... Read more »

FBR issues withholding tax rates for winning prize bonds

KARACHI: Federal Board of Revenue (FBR) has issued withholding tax rates for winning prize bonds, cross word, raffle, lottery and quiz for tax year 2019/2020 as effective from July 01, 2019. Read more »

Sindh notifies new motor vehicle tax rates

KARACHI: The Sindh government has notified new rates of motor vehicle tax effective from July 01, 2019 amendment through Provincial Finance Act, 2019 for the year 2019/2020. Read more »

No immunity to concealed income invested in immovable properties

ISLAMABAD: People purchasing immovable properties are now required to make true declaration as immunity to such investment has been withdrawn. Read more »