FBR restores 100% depreciation deduction
The Federal Board of Revenue (FBR) has announced the restoration of the 100 percent depreciation deduction for depreciable assets used in a business for the first time.
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Tag: First Year Allowance
First year allowance on plant, machinery withdrawn
ISLAMABAD: First year allowance has been withdrawn that was allowed on installation of plant and machinery by any industrial unit. The concession has been withdrawn through Tax Laws (Second Amendment) Ordinance, 2021. The first year allowance has been abolished that was available under Section 23A of Income Tax Ordinance, 2001 at the rate of 90 […]
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