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
FBR issues office timings during Ramazan
KARACHI: Federal Board of Revenue (FBR) on Friday issued office timings to be observed during the holy month of Ramazan. The FBR said that as per fed…
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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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