Pakistan Revenue
ISLAMABAD: Federal Board of Revenue (FBR) will impose penalty on withholding agents for failure in submitting withholding statement or information of taxpayers for the period July – December 2019. The last day for filing withholding statement electronically was January 31, 2020. Most of the withholding agents had filed the statements as per requirement. However, some […]
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KARACHI: Withholding agents have been directed to clearly mention the Computerized Identity Card Number (CNIC) of persons whose amounts have been withheld under various transactions. The withholding agents have been directed to provide CNIC particularly those persons who are not appearing on the Act Taxpayers List (ATL). Sources in Federal Board of Revenue (FBR) said […]
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ISLAMABAD: Federal Board of Revenue (FBR) has withdrawn the condition on individuals to act as withholding agent in case the business turnover is up to Rs100 million. The government through Tax Laws (Second Amendment) Ordinance, 2019 introduced major change to Income Tax Ordinance, 2001. Under section 153 of the Ordinance, individuals having turnover of Rs50 […]
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ISLAMABAD: Federal Board of Revenue (FBR) has received information of persons who purchased motor vehicles during tax year 2019. The tax authorities will cross check the sale or purchase of motor vehicles through income tax returns for tax year 2019, which can be filed by November 30, 2019. The FBR sources said that the tax […]
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KARACHI: Federal Board of Revenue (FBR) on Monday initiated a program of skill development of its officials to conduct system audit of withholding agents. A statement said that under the dynamic leadership of Syed Shabbar Zaidi, Chairman, FBR, a new initiative had been taken up by Faheem-ul-Haq, Director General (Withholding) and launched by Dr. Aftab […]
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KARACHI: The Sindh government has proposed legislation to make withholding agents responsible to pay tax on which he fails to deduct or fails to deposit deducted amount to provincial kitty. The Sindh Finance Bill 2019 proposed that the withholding agent is personally liable if he either fails to deduct tax or having deducted tax fails […]
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Withholding agents have been relaxed and they are now required filing statements biannually, according to new amendments introduced by the government of Pakistan.
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