Aug 27

Tax rates on usage of phone, internet for 2021-2022

Federal Board of Revenue (FBR) has updated rates of withholding tax on usage of telephone and internet to be applicable for the year 2021-2022. The revenue body issued the withholding tax rates after incorporating amendments brought into the Income Tax Ordinance, 2001 through Finance Act, 2021. The FBR collects withholding tax on usage of phone […]

by Hamza Shahnawaz

Tax rates on electricity consumption during 2021-2022

Aug 26

Taxation

Tax rates on electricity consumption during 2021-2022

Federal Board of Revenue (FBR) has updated the rates of withholding tax on consumption of electricity by commercial and domestic consumers. The FBR collects withholding tax on electricity consumption under Section 235 of Income Tax Ordinance, 2001. The tax rates have been revised through Finance Act, 2021 and implemented with effect from July 01, 2021. […]

by Faisal Shahnawaz

Tax rates on passenger, goods transport vehicles

Aug 25

Taxation

Tax rates on passenger, goods transport vehicles

Tax rates on passenger, goods transport vehicles have been revised by the Federal Board of Revenue (FBR) to rationalize applicable rates.

by Mrs. Anjum Shahnawaz

Tax rates on brokerage, commission for 2021-2022

Aug 24

Taxation

Tax rates on brokerage, commission for 2021-2022

The Federal Board of Revenue (FBR) has issued updated rates of withholding tax on brokerage and commission during fiscal year 2021-2022. The tax authorities collect withholding tax on brokerage and commission under Section 233 of the Income Tax Ordinance, 2001. The withholding tax rates have been updated after incorporating amendments brought through Finance Act, 2021. […]

by Hamza Shahnawaz

Tax rates on unregistered new cars during 2021-2022

Aug 23

Taxation

Tax rates on unregistered new cars during 2021-2022

In order to stop the ‘on money’ phenomenon, the government has slapped withholding tax on unregistered new motor cars or cars sold prior to first registration. Through the Finance Act, 2021 the tax rates have been imposed for the year 2021/2022 and onwards. Initially, these rates were imposed through the Tax Laws (Amendment) Ordinance, 2021 […]

by Hamza Shahnawaz

Withholding tax rates on transfer of motor car ownership

Aug 20

Automotive, Taxation

Withholding tax rates on transfer of motor car ownership

ISLAMABAD: Federal Board of Revenue (FBR) has issued updated rates of withholding tax on transfers of registration or ownership of motor vehicles during the year 2021/2022. Motor vehicle registration authority is responsible to collect the withholding tax on transfer of registration or ownership of motor vehicle under Section 231B(2) of the Income Tax Ordinance, 2001. […]

by Mrs. Anjum Shahnawaz

Withholding tax rates on petroleum products

Aug 19

Taxation

Withholding tax rates on petroleum products

Federal Board of Revenue (FBR) has issued updated rates of withholding income tax on petroleum products after incorporating amendments made through Finance Act, 2021. The FBR collects withholding tax on sale of petroleum products under Section 156A of the Income Tax Ordinance, 2001. WITHHOLDING TAX CARD 2021-2022 The tax rate at 12 per cent shall […]

by Mrs. Anjum Shahnawaz

Withholding income tax rates on prize bonds

Aug 18

Taxation

Withholding income tax rates on prize bonds

Federal Board of Revenue (FBR) has issued updated rates of withholding income tax on winning of prize bonds during fiscal year 2021-2022. The withholding tax rates have been updated after incorporating changes made through Finance Act, 2021. WITHHOLDING TAX CARD 2021-2022 The FBR collects withholding tax under Section 156 of the Income Tax Ordinance, 2001. […]

by Faisal Shahnawaz

Tax rates on exports of goods, services for 2021-2022

Aug 16

Taxation

Tax rates on exports of goods, services for 2021-2022

Islamabad – The Federal Board of Revenue (FBR) has released updated withholding tax rates on exports of goods and services for the fiscal year 2021-2022.

by Faisal Shahnawaz

Withholding tax rates on retailers during 2021-2022

Aug 15

Taxation

Withholding tax rates on retailers during 2021-2022

Federal Board of Revenue (FBR) has issued withholding tax rates on retailers at the time of sales by manufacturers during fiscal year 2021-2022. The FBR updated the withholding tax rates after incorporating amendments brought through Finance Act, 2021 effective from July 01, 2021. WITHHOLDING TAX CARD 2021-2022 The revenue body collects withholding income tax under […]

by Hamza Shahnawaz