Tax
Taxpayers’ information intact; database breach prevented
ISLAMABAD: The IT wing of the Federal Board of Revenue (FBR) has successfully secured the database of tax system in a cyber attack, which forced the…
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Tax
Return filing for tax year 2021 commences
ISLAMABAD: Unlike past practice of delayed opening of income return filing, the Federal Board of Revenue (FBR) has opened the IRIS portal for filing …
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Tax
Tax on property income should be made final
KARACHI: The Federal Board of Revenue (FBR) has been urged to rationalize rental income from property and individuals or Association of Persons (AOPs…
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Tax
SRB launches tax scheme for waiver of penalty, default surcharge
KARACHI: The Sindh Revenue Board (SRB) on Monday launched a scheme to exempt whole of the amount of penalty and default surcharge on payment of pri…
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Tax
FBR extends date for filing sales tax returns
ISLAMABAD: Federal Board of Revenue (FBR) has extended the last date for filing sales tax and federal excise return for the month of April 2021 up to…
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Tax
Real estate remains top priority for documentation of economy
ISLAMABAD: Tax authorities have prioritized real estate sector for documentation of economy during next three years for increasing share of direct ta…
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Tax
FBR urged to revise slabs for advance tax collection on motor cars
KARACHI: Federal Board of Revenue (FBR) has been urged to revise slabs of engine capacity of motor cars to give benefit to buyers in payment of withh…
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Tax
FBR issues alert against fake, harmful emails
ISLAMABAD: Federal Board of Revenue (FBR) has issued alerts against harmful and fake emails and warned general public to avoid providing their person…
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Tax
Karachi Tax Bar highlights issues in input tax adjustment on provincial invoices
KARACHI: Karachi Tax Bar Association (KTBA) on Wednesday wrote a letter to chairman of the Federal Board of Revenue (FBR) highlighting issues faced b…
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Tax
Major reforms in personal income tax likely in budget
ISLAMABAD: The tax authorities are working on major reforms in personal income tax to be introduced through budget 2021/2022. According to sources …
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Bank timings during Ramazan-ul-Mubarak
KARACHI: The State Bank of Pakistan (SBP) on Monday issued bank office and business hours during Ramazan-ul-Mubarak 1442 A. H.. The SBP said that the…
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Tax
Withholding tax collection from new car registration declines by 39pc in TY2020
ISLAMABAD: The collection of withholding tax on registration of new cars has declined by around 39 percent in tax year 2020 due coronavirus pandemic …
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Tax
Salary income tax brackets to be reduced to five
KARACHI: The government is working on reducing the brackets of salary income tax to five from existing 11 besides reducing the income slabs, accordin…
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Tax
100pc tax credit allowed with mandatory return filing
KARACHI: The tax exemption regime transposed into tax credit regime and certain businesses have been allowed 100 percent tax credit with mandatory re…
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Tax
Date extended up to June 30 for updating tax profile
ISLAMABAD: Federal Board of Revenue (FBR) on Friday extended the last date for updating taxpayer profile up to June 30, 2021. The FBR issued Circular…
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Tax
Tax Laws (Second Amendment) Ordinance, 2021 likely today
ISLAMABAD: The government to withdraw a large number of tax exemptions through an ordinance on Thursday after the approval of President of Pakistan. …
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Minimum penalty Rs10,000 for failure in updating taxpayer profile
Minimum penalty Rs10,000 for failure in updating taxpayer profile ISLAMABAD: A minimum penalty of Rs10,000 has been prescribed for one day after de…
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