Withholding tax collection on profit from bank deposits surges by 194pc

KARACHI: The collection of withholding tax from profit on bank deposits registered unprecedented growth of 194 percent during first quarter of first fiscal year as the tax rates increased by 100 percent... Read more »

Tax rate on interest income for Tax Year 2020

KARACHI: Federal Board of Revenue (FBR) issued tax rate to be imposed on interest income during Tax Year 2020. Read more »

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 »

Withholding Tax Card: Non-ATL to pay up to 30pc tax on profit from bank deposits, saving schemes

ISLAMABAD: Federal Board of Revenue (FBR) has issued withholding tax card for tax year 2019/2020 effective from July 01, 2019 under which persons receiving profit from bank deposits or investment in national... Read more »

FBR directs banks to provide details of depositors receiving Rs500,000 as profit on debt per year

KARACHI: Federal Board of Revenue (FBR) has directed banks to provide details of all those persons receiving interests above Rs500,000 in a year on their deposits. Read more »

Finance Bill 2019: tax rate enhanced up to 20pc on profit on debt

ISLAMABAD: The rate of tax has been increased up to 20 percent from 15 percent on profit on debt through Finance Bill, 2019. Read more »

Profit on banking deposits: High tax rate planned for non-filers in budget 2019/2020

ISLAMABAD: A sharp increase in withholding tax rate (may be up to 30 percent) on profit on banking deposits has been planned for non-filers in order to make it almost impossible to... Read more »

Profit on Debt: FBR makes mandatory for banks to provide details of account holders

ISLAMABAD: Federal Board of Revenue (FBR) has made it mandatory for banks to provide details of all those persons receiving profit on their deposits exceeding Rs 1 million for filers and Rs500,000... Read more »