Karachi, January 16, 2024 – In a progressive move, Pakistan has taken a significant step to empower women entrepreneurs by reducing tax liability under the category of income from business.
(more…)Tag: Income Tax Ordinance 2001
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FBR Allows Reduced Tax Rates on Profit on Debt for 2024
Karachi, January 15, 2024 – The Federal Board of Revenue (FBR) has allowed a reduced rate of income tax on profit on debt for the year 2024. This decision comes as part of the updated Income Tax Ordinance, 2001, specifically tailored for the tax year 2024.
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FBR Grants Tax Exemption on Remittances for Non-Residents
Karachi, January 14, 2024 – In a significant move, the Federal Board of Revenue (FBR) has announced a comprehensive tax exemption on foreign remittances received by non-residents.
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FBR Grants Tax Exemption on First Sale of Property in 2024
Karachi, January 13, 2024 – The Federal Board of Revenue (FBR) has made a significant move by granting income tax exemption on the first sale of immovable property during the tax year 2024.
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FBR Issues 2024 Tax Exemption List for Charitable Organizations
Karachi, January 12, 2024 – The Federal Board of Revenue (FBR) has unveiled a detailed list of charitable organizations eligible for tax exemption on their incomes during the tax year 2024.
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FBR Releases List of Income Tax-Exempt Entities for 2024
Karachi, January 11, 2024 – The Federal Board of Revenue (FBR) has unveiled a detailed list of entities entitled to income tax exemption for the tax year 2024.
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Pakistan Grants Tax Exemption to Judges of Higher Courts
Karachi, January 10, 2024 – Pakistan has introduced income tax exemptions on various allowances granted to judges of higher courts during the tax year 2024.
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FBR Grants Tax Exemption to Employee Perquisites in 2024
Karachi, January 9, 2024 – The Federal Board of Revenue (FBR) has recently announced a tax exemption on various perquisites granted to employees by virtue of their employment.
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FBR Grants Tax Exemption to Gratuity Payments in 2024
Karachi, January 8, 2024 – The Federal Board of Revenue (FBR) has announced a tax exemption for gratuity payments during the tax year 2024.
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Government Empowered to Impose Windfall Tax Across Sectors with Section 99D
Karachi, November 16, 2023 –Section 99D of the Income Tax Ordinance, 2001, has granted the federal government the authority to levy an additional tax on windfall profits across various sectors of the economy, according to sources within the Federal Board of Revenue (FBR).
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