Pakistan Revenue
ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday issued salient features of to highlight amendments to Customs Act, 1969 made through Tax Law (Second Amendment) Ordinance, 2019. Following are the salient features of changes made to customs law: 1. After section 3CC, the following new section is proposed to be inserted:- “3CCC. Directorate General of […]
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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 […]
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ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday issued salient features of amendment to Income Tax Ordinance, 2001 made through Tax Law (Second Amendment) Ordinance, 2019.
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ISLAMABAD: The government has authorized customs officials to use firearms in the line of duty to prevent smuggling and other illegal activities. In this regard a new sub-section 3 has been inserted to Customs Act, 1969 through Tax Laws (Second Amendment) Ordinance, 2019. Federal Board of Revenue (FBR) on Wednesday issued ‘Tax Laws (Second Amendment) […]
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ISLAMABAD: The government has introduced very harsh penalties for offence of currency smuggling. The government enhanced the jail term to 14 years for currency smuggling above $200,000 besides ten time of value of the currency would be recovered as penalty. Federal Board of Revenue (FBR) on Wednesday issued ‘Tax Laws (Second Amendment) Ordinance, 2019’ have […]
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ISLAMABAD: The government on Wednesday implemented a mini budget through a presidential ordinance making amendments to all duty and tax statutes. The amendments to tax laws namely ‘Tax Laws (Second Amendment) Ordinance, 2019’ have been promulgated through the presidential order. The consultants at Tax Excellence called it mini-budget and highlighted major changes made to Income […]
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