Pakistan Revenue
Karachi, July 27, 2023 – The Federal Board of Revenue (FBR) has elaborated new withholding tax regime for motor vehicles, aiming to streamline the taxation process and generate revenue for the government.
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Islamabad, June 22, 2023: The Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to regularly conduct audit of banks to check compliance with the withholding tax provisions.
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Islamabad, June 9, 2023 – In a bid to enhance the documentation of the economy, Pakistan has implemented a withholding tax on cash withdrawals from banks. However, this tax will only apply to individuals who are not listed on the Active Taxpayers List (ATL) of the Federal Board of Revenue (FBR).
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The Institute of Chartered Accountants of Pakistan (ICAP) has recommended the removal of the withholding tax burden imposed on listed companies by the Federal Board of Revenue (FBR).
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KARACHI: The Union of Small and Medium Enterprises (UNISAME) has voiced its opposition to reports suggesting that the government is considering the re-imposition of withholding tax on cash withdrawals.
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Foreign investors operating in Pakistan are calling on the country to abolish the withholding tax on telecom services.
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ISLAMABAD: Federal Board of Revenue (FBR) has collected over Rs81 billion from sale and purchase of property transactions during tax year 2022, official documents revealed.
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ISLAMABAD: Share of withholding tax (WHT) collection in total collection of direct taxes has increased to 67 during Tax Year 2022 despite elimination of many provisions related to the withholding taxes.
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ISLAMABAD: Pakistan has introduced an automated system for real-time payment for withholding tax. The system has been introduced through the Finance Act, 2022 by making amendment to the Income Tax Ordinance, 2001. The Federal Board of Revenue (FBR), the apex tax collecting agency of Pakistan, issued Income Tax Circular No. 15 of 2022/2023 to explain […]
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ISLAMABAD: The Federal Board of Revenue (FBR) said that withholding tax for commercial importers has been enhanced to 3.5 per cent from 2 per cent. The FBR issued Income Tax Circular No. 15 of 2022/2023 to explain important amendments introduced through Finance Act, 2022 to the Income Tax Ordinance, 2001. READ MORE: Tax through electricity […]
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