KARACHI: Commissioners of Inland Revenue have been empowered to amend assessment on the basis of best judgment and make dis-allowances without specific supporting evidence. According to interpretation of Finance Bill, 2020 by... Read more »
KARACHI: The Finance Bill 2020 has proposed major changes related to tax deduction in order to provide relief to business community. Under the proposed amendments the threshold amount has been increased up... Read more »
KARACHI: The Finance Bill 2020 has proposed changes to taxability on payments made for goods, services and contracts. According to explanation to amendments made to Section 153 of Income Tax Ordinance, 2001... Read more »
KARACHI: The Finance Bill 2020 has proposed significant amendments related to income tax at import stage in Section 148 of Income Tax Ordinance, 2001 as it was described by BDO Pakistan Audit... Read more »
ISLAMABAD: The Finance Bill, 2020 has proposed to withdraw withholding tax collection on nine different types of transactions under Income Tax Ordinance, 2001. According to budget commentary issued by PwC A F... Read more »
ISLAMABAD: Withholding agents shall require to file statement on quarterly basis from fiscal year starting July 01, 2020. The Finance Bill, 2020 proposed amendments to Section 165 of Income Tax Ordinance, 2001,... Read more »
ISLAMABAD: All registered taxpayers are required to update their profile by providing details of bank accounts otherwise they will be excluded from Active Taxpayers List (ATL). The Finance Bill, 2020 has proposed... Read more »
ISLAMABAD: A Pakistan resident ship owning company shall pay tonnage tax of an amount equivalent to US 75 cents per ton, as proposed through Finance Bill, 2020. A new clause (c) has... Read more »
ISLAMABAD: The Finance Bill 2020 has proposed to insert definition of IRIS to income Tax Ordinance, 2001. The Finance Bill 2020 proposed many changes to Section 02 of the Ordinance. A new... Read more »
ISLAMABAD: The government has brought massive changes to Income Tax Ordinance, 2001 through Finance Bill 2020. EY Ford Rhodes Chartered Accountants highlighted the major changes introduced to Income Tax Ordinance, 2001 through... Read more »