Inward remittances above Rs10 million per year require to explain source

KARACHI: The source of foreign remittances are now under questioning by Federal Board of Revenue (FBR) if inward transfer is above Rs10 million to a recipient in a year. Read more »

Abolishing advance tax on share sale, purchase on the cards

KARACHI: The government is likely to abolish advance tax on sale and purchase of shares in the capital market on the demand of Pakistan Stock Exchange (PSX), sources said on Saturday.  ... Read more »

Value added sector seeks tax credit on equity investment for individuals, AOPs

KARACHI: The value added sector has urged Finance Minister Asad Umar to allow tax credit on equity investment for business individuals and Association of Persons (AOPs).       In a letter... Read more »

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.      ... Read more »