Apr 29

Withholding tax card for dividend income, return on Sukuk: updated for Tax Year 2019

KARACHI: Federal Board of Revenue (FBR) has updated withholding tax card for Tax Year 2019 incorporating amendment made to Income Tax Ordinance, 2001 through Finance Supplementary (Second Amendment) Act, 2001. Following are the withholding tax rates for dividend income and return on investment in Sukuk under Section 150 and Section 150 A updated up to […]

by Faisal Shahnawaz

Banks require to collect 5pc withholding tax on off-shore digital services

Jan 21

Exclusive, Taxation

Banks require to collect 5pc withholding tax on off-shore digital services

Banks in Pakistan are now required to collect a 5 percent withholding tax on payments for off-shore digital services, according to the Withholding Tax Card for Tax Year 2019 released by the Federal Board of Revenue (FBR).

by Mrs. Anjum Shahnawaz

Media to pay 20pc final tax on foreign produced advertisements

Jan 21

Exclusive, Taxation

Media to pay 20pc final tax on foreign produced advertisements

The Federal Board of Revenue (FBR) in Pakistan has introduced a significant tax measure by imposing a 20% final tax on media at the time of payments for the production of commercial advertisements to foreign entities.

by Mrs. Anjum Shahnawaz

Withholding tax rate on winning prize bonds

Jan 20

Exclusive, Taxation

Withholding tax rate on winning prize bonds

The Federal Board of Revenue (FBR) has revealed the withholding tax rate on prize bonds and winning for Tax Year 2019, as outlined in Section 156 of the Income Tax Ordinance, 2001.

by Mrs. Anjum Shahnawaz

Withholding tax rates on income from property for Tax Year 2019

Jan 20

Exclusive, Taxation

Withholding tax rates on income from property for Tax Year 2019

The Federal Board of Revenue (FBR) has recently released the rates of withholding tax to be collected on income from property for Tax Year 2019.

by Mrs. Anjum Shahnawaz

Withholding tax rates on profit on banking deposits

Jan 18

Taxation

Withholding tax rates on profit on banking deposits

Withholding tax rates on profit on banking deposits have been updated for tax year 2019. In a significant development for the financial sector, the Federal Board of Revenue (FBR) has announced updated withholding tax rates on profit earned from banking deposits for the tax year 2019.

by Mrs. Anjum Shahnawaz

Withholding income tax rates at import stage for tax year 2019

Jan 17

Taxation

Withholding income tax rates at import stage for tax year 2019

Withholding income tax rates that will be deducted at the import stage for the tax year 2019 have been unveiled, giving importers in Pakistan a clear picture of their tax obligations.

by Mrs. Anjum Shahnawaz

Salary tax slab of above Rs800,000 to pay Rs2,000 as minimum tax

Jan 16

Taxation

Salary tax slab of above Rs800,000 to pay Rs2,000 as minimum tax

Islamabad – The Federal Board of Revenue (FBR) has introduced a minimum tax for salary individuals with taxable income exceeding Rs800,000 but not exceeding Rs12,000 for Tax Year 2019.

by Mrs. Anjum Shahnawaz

Advance tax on domestic, international air tickets adjustable

Jan 15

Taxation

Advance tax on domestic, international air tickets adjustable

The Federal Board of Revenue (FBR) has recently introduced revised advance tax rates on both domestic and international air tickets to be collected from purchasers.

by Hamza Shahnawaz

FBR issues updated withholding tax card for Tax Year 2019

Jan 13

Taxation

FBR issues updated withholding tax card for Tax Year 2019

The Federal Board of Revenue (FBR) in Pakistan has announced the issuance of an updated rate card for withholding tax for Tax Year 2019, incorporating amendments introduced through the Finance Supplementary Act of 2018.

by Mrs. Anjum Shahnawaz