Pakistan Revenue
ISLAMABAD: The operator of the online market place has been made liable to withholding sales tax on sales of goods. An important amendment has been made through Tax Laws (Third Amendment) Ordinance, 2001, which was promulgated on September 15, 2021 through a presidential order. A new proviso has been inserted to Section 3 of the […]
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ISLAMABAD: Importers will not be allowed to avail of the facility of provision valuation for goods declaration when the valuation of such goods is already in the field. An important amendment has been made into Customs Act, 1969 through Tax Laws (Third Amendment) Ordinance, 2021, which was promulgated through presidential order on September 15, 2021. […]
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The Customs authorities have been restricted from reopening the assessment of consignment clearance based on incorrect information after a three-year period.
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The Tax Laws (Third Amendment) Ordinance, 2021 has granted enhanced powers to the Member Customs, allowing them to annul or modify orders previously passed by the Director-General of Customs Valuation.
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ISLAMABAD: The Federal Board of Revenue (FBR) will recover a minimum amount of Rs10,000 as a penalty from salaried persons, who failed to file an income tax return during a tax year. The minimum penalty has been increased from Rs5,000 to Rs10,000. The changes have been brought through Tax Laws (Third Amendment) Ordinance, 2021, which […]
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The federal government of Pakistan has introduced an additional advance income tax (AIT) of up to 35% on the consumption of electricity by individuals not appearing on the Active Taxpayers List (ATL).
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ISLAMABAD: National Database and Registration Authority (NADRA) has been empowered to compute indicative income and tax liability of persons using artificial intelligence and other modes.
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ISLAMABAD: The Federal Board of Revenue (FBR) has been empowered under income tax statute to block mobile phones or mobile phone SIMs of persons who have taxable income but remained non-filer of annual return. The government promulgated Tax Laws (Third Amendment) Ordinance, 2021, and made major amendments to the Income Tax Ordinance, 2001. As per […]
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