Following are the salient features introduced to Sale Tax through Finance Bill, 2023, according to Pakistan Budget 2023-24 revealed on Friday.
ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday issued salient features of amendment to Sales Tax Act, 1990 made through Tax Law (Second Amendment) Ordinance, 2019. Following are the salient features of sales tax: 1. Many queries have been received seeking clarification of the term “greenfield industry”. A definition of this term in section 2 […]
ISLAMABAD: The federal government has announced various revenue and relief measures in income tax regime in the budget 2019/2020. Following measures has been announced: Relief Measures Payment of refunds through promissory notes: Huge amounts claimed by taxpayers are stuck up in refunds causing a liquidity crunch for businesses. These refunds have accumulated over a long […]
ISLAMABAD: The federal government has announced various budgetary measures in sales tax and federal excise for fiscal year 2019/2020. The budgetary measures pertaining to Sales Tax & Federal Excise are primarily aimed at: RELIEF MEASURES 01. Expansion in scope of exemption allowed in respect of Tribal Areas To settle the post FATA/PATA merger scenario and […]
ISLAMABAD: The government has announced changes in customs duty regime which included relief and revenue measures. RELIEF MEASURES 1. To standardize printing and preservation of Holy Quran, import of good quality duty free Art paper is being allowed. 2. Exemption of CD on 18 medicinal inputs/items 3. Exemption of CD on Modular/ Particle Free Operation […]
Finance Supplementary Bill: Major changes introduced to income tax have been announced by the Federal Board of Revenue (FBR).
The FBR released crucial details on Thursday regarding the transformative changes brought to the Customs duty regime through the Finance Supplementary (Second Amendment) Bill, 2019, which was presented on January 23, 2019. These modifications are poised to impact various sectors and streamline the country’s trade policies.