Wholesale, retail sectors: Govt considering ending multiple withholding taxes ISLAMABAD: The government is considering a recommendation of the Reforms & Revenue Mobilization Commission... Updated 25 May, 2023 08:50am
Print FBR considering documenting non-filers’ property deals ISLAMABAD: The Federal Board of Revenue (FBR) is considering some major taxation proposals to document transactions... Updated 24 May, 2023 12:32pm
Business & Finance ‘No official can override tax exemption by changing opinion’ LAHORE: “No tax official can override tax exemption by changing his opinion under the garb of rectification of... Published 21 May, 2023 04:00am
Pakistan Alleged maladministration: IHC issues notices to member FBR, others ISLAMABAD: Islamabad High Court (IHC) has issued notices to Member Information Technology Federal Board of Revenue... Published 15 May, 2023 06:41am
Business & Finance FBR releases Rs45m to TDCP as withdrawal declared illegal LAHORE: The Federal Board of Revenue (FBR) has released Rs.45.371 million of the Tourism Development Corporation of... Published 13 May, 2023 05:59am
Business & Finance Refund claim: FTO unearths maladministration by RTO officials ISLAMABAD: Federal Tax Ombudsman (FTO) has unearthed serious maladministration committed by the officials of the... Published 13 Apr, 2023 06:37am
Opinion Disclosure of beneficial ownership by companies General: These notes represent our views and comments on the draft rules proposed to be inserted in the Income Tax... Updated 02 Mar, 2023 07:13am
Print ‘Advance to Deposit Ratio’: Higher rate of tax will not apply on banks for TY 2024 ISLAMABAD: The higher rate of tax for “Advance to Deposit Ratio” will not apply on banks for tax year 2024, ... Updated 01 Mar, 2023 09:05am
Print Industries/sectors earning over Rs300m: SC directs payment of 4pc super tax within a week ISLAMABAD: The Supreme Court of Pakistan (SC) has directed the industries/sectors earning income above Rs300 ... Updated 24 Feb, 2023 08:50am
Print Debt and debt instruments: Profit on debt and capital gains given tax exemption ISLAMABAD: The Federal Board of Revenue (FBR) has exempted income tax on profit on debt and capital gains from debt... Updated 24 Feb, 2023 08:44am
Business & Finance ‘Tax liability on estimations’: FTO asks FBR to revisit its order ISLAMABAD: While disposing of a complaint, the Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue... Updated 04 Feb, 2023 10:18am
Print Non-filers: Govt considering imposing WHT on banking transactions ISLAMABAD: The government is considering to impose withholding tax on banking transactions of non-filers of income... Updated 24 Jan, 2023 09:01am
Print Tax demand in respect of Q2 2022 advance tax: IHC sets aside order of DC IR Islamabad ISLAMABAD: The Islamabad High Court (IHC) set aside the order of Deputy Commissioner Inland Revenue, Islamabad... Updated 05 Jan, 2023 08:54am
Print KTBA not happy as FBR issues audit notices to taxpayers KARACHI: Federal Board of Revenue (FBR) has started issuing audit notices under section 177 of the Income Tax... Updated 02 Jan, 2023 08:44am
Print Super tax to be applicable in TY23 and onwards: SHC ISLAMABAD: The Sindh High Court (SHC) has held that super tax on high-earning persons will not be applicable for the... Updated 23 Dec, 2022 08:59am
Print Sec 7E of IT Ord: BHC issues notices to FBR ISLAMABAD: Balochistan High Court (BHC), Tuesday, issued notices to the Federal Board of Revenue (FBR) regarding the... Updated 21 Dec, 2022 09:59am
Pakistan ‘Politically-exposed’ persons facilitate smuggling: As yet no mechanism in place to effectively curb forex outflows LAHORE: Changes in law and tax provisions have failed to provide mechanism to control unauthorized foreign currency... Updated 17 Dec, 2022 01:07pm
Pakistan Money laundering, tax evasion: Rs0.5m fine imposed under AMLA-2010 and Rs0.1m under ITO-2001 ISLAMABAD: The government has imposed a fine of only Rs0.5 million under the Anti-Money Laundering Act 2010... Published 09 Dec, 2022 05:58am
Business & Finance Multiple audit notices to senior citizen: FTO directs FBR to revisit orders under IT Ord ISLAMABAD: The Federal Tax Ombudsman (FTO) has taken notice of the harsh treatment of the Federal Board of Revenue... Published 17 Sep, 2022 04:27am
Opinion Deemed rent–indeed, a bad law This is the second article on the subject. A concept of tax on deemed rent has been introduced by the Finance Act,... Published 14 Sep, 2022 04:45am
Business & Finance Advance tax on immovable property: FBR withdraws holding period exemption Sub-section (3) of section 236C of the Income Tax Ordinance, 2001 has been omitted Updated 10 Aug, 2022 09:37am
Pakistan DGIP will now report to FBR member ISLAMABAD: The Federal Board of Revenue (FBR) has directed the Directorate General of Immovable Property to now... Published 29 Jul, 2022 06:14am
Print Tax rate on income of banking firms enhanced Rises to 39% for tax year 2023 compared to 35% Updated 22 Jul, 2022 09:23am
Print Capital assets in Pakistan: Tax on ‘deemed income’ challenged in LHC LHC issues notice to Attorney General of Pakistan Updated 21 Jul, 2022 09:49am
Business & Finance Capital assets: Tax on deemed income applicable to TY22, onwards ISLAMABAD: The Finance Act 2022 has clarified that the tax on deemed income would be applicable for Tax Year 2022... Updated 02 Jul, 2022 12:12pm
Business & Finance FTO directs FBR to keep record of WWF refunds ISLAMABAD: The Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to maintain a separate... Published 08 Jun, 2022 06:19am
Business & Finance SECP proposes amendment to Section 100B of ITO ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has proposed measures to the Federal Board of... Published 03 Jun, 2022 06:26am
Print Banks: govt mulling raising super tax rate ISLAMABAD: The Federal Board of Revenue (FBR) will propose “Super Tax” on certain sectors having annual turnover... Updated 31 May, 2022 10:11am
Print E-notices given legal cover by FBR ISLAMABAD: The Federal Board of Revenue (FBR) has given legal cover to electronically-served notices in cases where... Updated 21 May, 2022 10:50am
Print Withholding tax on profits: SHC bars banks/tax dept from making deductions ISLAMABAD: A Division Bench of Sindh High Court (SHC) has barred the banks/tax department from deduction of... Updated 11 May, 2022 09:51am
Behind the screens: SECP probe into State Life’s equity investment process opens Pandora’s box at PSX?
Behind the screens: SECP probe into State Life’s equity investment process opens Pandora’s box at PSX?