Return filing mandatory for Pakistanis having foreign assets

ISLAMABAD: Pakistanis having income and assets abroad are required to file annual income tax return under Section 114 of the Income Tax Ordinance, 2001. According to Section 114 of the Ordinance the return filing is mandatory for: “(x) is a resident person being an individual required to file foreign income and assets statement under section […]

by Anjum Shah

FBR, provincial authorities discuss single return filing portal

Jul 27

Taxation

FBR, provincial authorities discuss single return filing portal

ISLAMABAD: Federal Board of Revenue (FBR) has discussed with the provinces about common portal for single return filing, a statement said on Monday. At the meeting the tax authorities deliberated on ways to facilitate taxpayers under jurisdictions of the federal and the provincial authorities. Member IR Operations D. Muhammad Ashfaq Ahmed presided over the meeting. […]

by admin

FBR extends date for sales tax payment, return for March

Apr 18

Taxation

FBR extends date for sales tax payment, return for March

ISLAMABAD: Federal Board of Revenue (FBR) has extended the date for payment and filing sales tax monthly return for the month of March 2020. In a circular issued on Saturday, the FBR extended the last date for making payment of sales tax up to April 27, 2020, which was due on April 15, 2020. Similarly, […]

by admin

RTO-II starts return filing facilitation drive next week

Jul 19

Taxation

RTO-II starts return filing facilitation drive next week

KARACHI: Regional Tax Office (RTO) –II Karachi to launch drive from next week in order to facilitate people to file their annual income tax returns. FBR teams will set up camp offices at large corporate and government offices besides visiting markets and shopping plazas to encourage salary and business individuals to file their returns, said […]

by Anjum Shah

SRB extends return filing date for telecom service providers

Apr 29

Taxation

SRB extends return filing date for telecom service providers

KARACHI: Sindh Revenue Board (SRB) has extended return filing date for telecom service providers up to May 03, 2019 for the month of March 2019. In a circular issued by the SRB stated that the telecom service providers can e-deposit the amounts of Sindh Sales Tax for the tax period March 2019, on or before […]

by Faisal Shah

Sales Tax Act 1990: return filing requirement by registered persons

Apr 20

Exclusive, Taxation

Sales Tax Act 1990: return filing requirement by registered persons

KARACHI: A sales tax registered person is required to file true and correct sales tax return on monthly basis by providing details of supplies and persons whom the supplies were made during the period. According to updated Sales Tax Act, 1990 issued by Federal Board of Revenue (FBR), the Section 26 explained the requirement of […]

by Faisal Shah