Tax
Tax Laws Allow Arrest Taxpayers in Pakistan for Default
Tax Laws Allow Arrest Taxpayers in Pakistan for Default In Pakistan, the Federal Board of Revenue (FBR) has the power to arrest taxpayers who defaul…
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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 expands operations against Benami assets to four major cities
ISLAMABAD: Federal Board of Revenue (FBR) has decided to expand operations against Benami assets / properties in four major cities of the country, so…
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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
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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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
Minimum penalty of Rs10,000 fixed for defaulting withholding statement
KARACHI: A minimum penalty of Rs10,000 has been fixed for defaulting withholding statement where no tax is required to be deposited. Official at the …
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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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