Sales tax law: FBR seeks to introduce concept of ‘Best judgment Assessment’ ISLAMABAD: The Federal Board of Revenue (FBR) has proposed to introduce the concept of “Best judgment ... Published 04 Sep, 2023 06:21am
Print New version of ‘IRIS’: FBR asked to remove errors ISLAMABAD: The Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to take corrective... Updated 01 Sep, 2023 09:59am
Print 2022-23: Rs160bn ST collected from power sector ISLAMABAD: Total sales tax collection (domestic) from the power sector including electricity bills stood over Rs160... Updated 29 Aug, 2023 09:12am
Business & Finance PRA raids two beauty salons for recovery of sales tax LAHORE: The Punjab Revenue Authority (PRA) raided two leading beauty salons in posh area of Gulberg on Friday to... Published 19 Aug, 2023 06:36am
Business & Finance SRB extends deadline for e-deposit, e-filing KARACHI: The Sindh Revenue Board (SRB) has further extended the last date for e-deposit of Sindh sales tax and... Published 18 Aug, 2023 05:42am
Print Business brands of defaulter co: FBR to auction off trademarks, properties ISLAMABAD: The Federal Board of Revenue (FBR) for the first time has decided to auction the copyrights/ trademarks... Updated 18 Aug, 2023 09:12am
Business & Finance Engro Corporation’s half-year profit up 28% Pakistan’s conglomerate Engro Corporation Limited (ENGRO) posted a Profit After Tax (PAT) of Rs21.47 billion for the... Published 17 Aug, 2023 03:53pm
Business & Finance Access to SRB’s portal marred by unexpected maintenance delay KARACHI: Taxpayers in Karachi are unable to pay provincial sales tax as the tax filing portal of Sindh Revenue Board... Published 17 Aug, 2023 03:49am
Print ST, FED return form: FTO directs FBR to rectify errors ISLAMABAD: The Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to rectify errors in the... Updated 12 Aug, 2023 09:10am
Print Exporters trapped in GST refunds: TMA urges govt to restore SRO 1125(I)/2011 in true letter and spirit KARACHI: Senior Vice Chairman of the Towel Manufacturers Association of Pakistan Syed Usman Ali has expressed severe... Updated 04 Aug, 2023 09:56am
Print Sale tax law: expert approves of new definition of ‘tax fraud’ ISLAMABAD: The acquirers or possessors (traders) of smuggled/ domestic goods, on which sales tax has not been paid,... Updated 31 Jul, 2023 09:46am
Print Sales tax audit procedure redefined ISLAMABAD: The Federal Board of Revenue (FBR) has redefined the sales tax audit procedure including selection of... Updated 28 Jul, 2023 09:21am
Business & Finance Audit officials of ST dept accused of misusing concept of ‘sister companies’ LAHORE: Audit wing officials of the sales tax department are allegedly misusing the concept of sister companies ... Published 28 Jul, 2023 03:02am
Print FBR seeks amendment to Sec 2(37) of ST Act ISLAMABAD: The scope of ‘sales tax fraud’ is intended to be enlarged by the Federal Board of Revenue (FBR) by... Updated 27 Jul, 2023 08:56am
Print Supplies to unregistered persons: ‘Further Tax’ rate raised to 4pc ISLAMABAD: The Federal Board of Revenue (FBR) has increased the rate of ‘Further Tax’ from three to four percent on... Updated 26 Jul, 2023 09:08am
Business & Finance Punjab govt decides to revamp sales tax on services strategy LAHORE: The Punjab government has decided to revamp its strategy on the sales tax on services (STS) to make its... Published 25 Jul, 2023 06:20am
Print Goods under brand name, trademark: Bulk supplies chargeable to GST: FBR ISLAMABAD: The Federal Board of Revenue (FBR) will charge sales tax on bulk supplies of goods made under brand names... Updated 25 Jul, 2023 10:03am
Business & Finance FBR chairman, PPMA team discuss issues related to sales tax regime ISLAMABAD: The Pakistan Pharmaceutical Manufacturers’ Association (PPMA) and the Federal Board of Revenue (FBR) on... Published 13 Jul, 2023 04:50am
Print SC says taxing statute should be strictly construed regardless ISLAMABAD: The Supreme Court held that a taxing statute should be construed strictly, even if the literal... Updated 12 Jul, 2023 08:48am
Print Pharmaceutical sector granted major tax relief ISLAMABAD: The government has provided major tax relief to the pharmaceutical sector by allowing the reduced rate of... Updated 10 Jul, 2023 08:51am
Print Restaurants/eateries: Credit/debit card payments allowed at reduced 5pc ST ISLAMABAD: The government has taken a significant documentation measure by allowing credit/debt card payments at a... Updated 10 Jul, 2023 08:57am
Business & Finance FBR directed to transfer ST, FED jurisdiction of all cases from AEOI Zones to original jurisdiction ISLAMABAD: The Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to immediately transfer... Published 08 Jul, 2023 06:20am
Print FBR issues tax expenditure report-2023: More exemptions, concessions given during 2021-22 ISLAMABAD: The Federal Board of Revenue (FBR) has given more sales tax exemptions, zero-rating and concessions to... Updated 08 Jul, 2023 09:02am
Print FBR to ‘sell’ excise rules, general orders, departmental rulings to public ISLAMABAD: The Federal Board of Revenue (FBR) will “sell” federal excise rules, general orders and departmental... Updated 06 Jul, 2023 08:39am
Print Value of Rs5m or more: 3pc advance tax to be collected on registration of EVs ISLAMABAD: The advance tax at the rate of 3 percent would be collected at the time of registration of electric... Updated 04 Jul, 2023 09:11am
Business & Finance Amendments enacted by Finance Act, 2023 vis-à-vis those proposed in Finance Bill 2023–II SALES TAX INCREASE IN RATE OF FURTHER TAX Published 29 Jun, 2023 04:19am
Business & Finance Islamabad Capital Territory: FBR to charge 15pc ST on electric power transmission services ISLAMABAD: The Federal Board of Revenue (FBR) will charge 15 percent sales tax on Electric Power Transmission... Published 28 Jun, 2023 06:31am
Business & Finance Amendments enacted by Finance Act, 2023 vis-à-vis those proposed in Finance Bill 2023–I The Federal Government presented Finance Bill, 2023(‘FB’) in the National Assembly on June 9, 2023. After the... Published 28 Jun, 2023 06:31am
Print KTBA says ‘IRIS’ has stopped incorporating credit notes KARACHI: The FBR portal ‘IRIS’ has stopped incorporating credit notes during the process of filing of sales tax... Updated 27 Jun, 2023 08:59am
Print Supplies made to unregistered persons: Rate of ‘Further Sales Tax’ increased to 4pc ISLAMABAD: In a major move to document unregistered sales tax persons, the Federal Board of Revenue (FBR) has... Updated 26 Jun, 2023 09:22am