Non-ATL person to pay 10pc withholding tax for offshore digital service

Jul 29

Taxation

Non-ATL person to pay 10pc withholding tax for offshore digital service

ISLAMABAD: Persons not appearing in the Active Taxpayers’ List (ATL) shall pay 10 percent as withholding tax on payment of fee for offshore digital service to non-resident person under Section 152(1C) of Income Tax Ordinance, 2001. The Federal Board of Revenue (FBR) issued withholding tax card for tax year 2020 effective from July 01, 2019. […]

by Mrs. Anjum Shahnawaz

FBR issues withholding tax rates on commercial, industrial electricity consumers

Jul 26

Taxation

FBR issues withholding tax rates on commercial, industrial electricity consumers

KARACHI: Federal Board of Revenue (FBR) has issued withholding tax rates to be collected from electricity consumers of commercial and industrial. According to Withholding Tax Card for tax year 2020 applicable from July 01, 2019, the power utility preparing electricity bills shall collect withholding tax under Section 235 of Income Tax Ordinance, 2001 from commercial […]

by Mrs. Anjum Shahnawaz

FBR issues withholding tax rates on registration of motor vehicles

Jul 25

Taxation

FBR issues withholding tax rates on registration of motor vehicles

ISLAMABAD: Federal Board of Revenue (FBR) has issued updated withholding tax rates on registration of new motor vehicles effective from July 01, 2019. The FBR said that motor vehicle registration authorities are required to collect/deduct advance tax on private motor vehicles under Section 231B of Income Tax Ordinance, 2001 at the time of registration of […]

by Mrs. Anjum Shahnawaz

FBR issues withholding tax rates for winning prize bonds

Jul 23

Taxation

FBR issues withholding tax rates for winning prize bonds

KARACHI: Federal Board of Revenue (FBR) has issued withholding tax rates for winning prize bonds, cross word, raffle, lottery and quiz for tax year 2019/2020 as effective from July 01, 2019. The FBR said that every person making payment shall collect withholding tax from persons on active taxpayers list (ATL) and double the amount of […]

by Mrs. Anjum Shahnawaz

FBR issues withholding tax rates for sale, purchase of immovable properties

Jul 21

Exclusive, Taxation

FBR issues withholding tax rates for sale, purchase of immovable properties

KARACHI: Federal Board of Revenue (FBR) has notified withholding tax rate for active and non-active taxpayers at the time of sale and purchase of immovable properties as amended through Finance Act, 2019 and applicable from July 01, 2019. The FBR said that every person registering, recording or attesting or transfer including local authorities, housing authorities, […]

by Mrs. Anjum Shahnawaz

Withholding Tax Card: Non-ATL to pay up to 30pc tax on profit from bank deposits, saving schemes

Jul 19

Exclusive, Taxation

Withholding Tax Card: Non-ATL to pay up to 30pc tax on profit from bank deposits, saving schemes

ISLAMABAD: Federal Board of Revenue (FBR) has issued withholding tax card for tax year 2019/2020 effective from July 01, 2019 under which persons receiving profit from bank deposits or investment in national saving schemes shall pay up to 30 percent, if not on the Active Taxpayers List (ATL).

by Mrs. Anjum Shahnawaz

Withholding Tax Card: non-ATL persons to pay 30pc tax on dividend income

Jul 19

Exclusive, Taxation

Withholding Tax Card: non-ATL persons to pay 30pc tax on dividend income

KARACHI: Federal Board of Revenue (FBR) has issued withholding tax card for tax year 2019/2020 effective from July 01, 2019 under which person not appearing on the Active Taxpayers List (ATL) shall pay up to 30 percent on dividend income. According to documents made available to PkRevenue.com, the FBR said that every person paying dividend […]

by Mrs. Anjum Shahnawaz

Withholding Tax Card: Tax rates on imports of goods for ATL, non-ATL persons

Jul 19

Exclusive, Taxation

Withholding Tax Card: Tax rates on imports of goods for ATL, non-ATL persons

KARACHI: Federal Board of Revenue (FBR) has issued withholding tax rates on imports of goods for persons appearing on Active Taxpayers List (ATL) and for persons not on ATL under Section 148 of Income Tax Ordinance, 2001 for tax year 2019/2020 effective from July 01, 2019. According to documents made available to PkRevenue.com the FBR […]

by Mrs. Anjum Shahnawaz

Withholding tax rates on payment for goods and services during Tax Year 2019

May 6

Taxation

Withholding tax rates on payment for goods and services during Tax Year 2019

KARACHI: Federal Board of Revenue (FBR) has updated withholding tax card for tax year 2019 amendment through Finance Supplementary (Second Amendment) Act, 2019. Following are the withholding tax rates applicable on payment for goods and services under Section 153 of Income Tax Ordinance, 2001. Under this section every withholding agent prescribed under the ordinance shall […]

by Faisal Shahnawaz

Withholding tax rates on purchase, registration of motor vehicle for Tax Year 2019

May 4

Exclusive, Taxation

Withholding tax rates on purchase, registration of motor vehicle for Tax Year 2019

KARACHI: Federal Board of Revenue (FBR) has issued updated withholding tax rates on purchase and registration of motor vehicles. The withholding tax rates have been updated through Finance Supplementary (Second Amendment) Act, 2019 as on March 09, 2019.The withholding tax rate on registration of motor vehicle to be collected by excise and taxation department of […]

by Faisal Shahnawaz