Fair market value of subsidiary firms shares: No increase in tax in presence of income from business LAHORE: The tax department could not increase tax in the notional fair market value of the subsidiary company/s... Published 26 Apr, 2024 04:15am
Print PM suspends CCIR for ‘deliberate delay in tax cases’ ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday suspended Chief Commissioner-Inland Revenue (IR), Large... Updated 24 Apr, 2024 09:25am
Print Non-exporters: FBR issuing urgent alert to check misuse of CNICs/NTNs ISLAMABAD: The Federal Board of Revenue (FBR) is issuing an urgent alert to the Customs field formations to check... Updated 23 Apr, 2024 08:54am
Opinion Deemed income tax on ownership of vacant plot of land incorrect—V All the arguments and contentions made by the Sindh High Court in the aforesaid order which have been emphasised are... Published 17 Apr, 2024 05:28am
BR Research Favoured or just lucky? When it comes to savings, the public sector loves to stick to their own kind. According to a review of annual... Published 09 Apr, 2024 08:34am
Business & Finance SRO 350/(I)/2024: PTBA says concerned at non-consideration of ‘fundamentals’ KARACHI: Pakistan Tax Bar Association (PTBA) has expressed its concern over non-consideration of fundamentals in the... Published 07 Apr, 2024 03:01am
Print Excellence Award: FBR announces privileges, concessions for top taxpayers ISLAMABAD: The Federal Board of Revenue (FBR) has announced privileges/concessions for the top taxpayers, who... Updated 05 Apr, 2024 09:57am
Business & Finance FTO takes notice of illegal recovery by FBR ISLAMABAD: The Federal Tax Ombudsman (FTO) has taken notice of an illegal tax recovery by the Federal Board of... Published 05 Apr, 2024 04:50am
Print Top taxpayers: Pakistan Honour Card Scheme to be announced ISLAMABAD: The Federal Board of Revenue (FBR) will announce the “Pakistan Honour Card Scheme” for the top taxpayers... Updated 02 Apr, 2024 09:42am
Print Refund of coercively/illegally recovered amount: Taxpayers are not obliged to follow procedural requirements: IHC ISLAMABAD: Islamabad High Court (IHC) has declared that the taxpayers are not obliged to follow procedural... Updated 01 Apr, 2024 09:48am
Print PM gives away excellence awards: Award-winning taxpayers to get ‘blue passport’, ‘honour card’ ISLAMABAD: Prime Minister Shehbaz Sharif has announced to give blue passports and honour cards to the award-winning... Updated 27 Mar, 2024 08:47am
Business & Finance Siddiqsons Group chairman receives 4th ‘highest taxpayer award’ KARACHI: Prime Minister Shehbaz Sharif presented awards to 65 leading exporters and compliant taxpayers in a ... Published 27 Mar, 2024 04:38am
Business & Finance Forex dealers, ECs, others: e-integration with FBR made mandatory ISLAMABAD: The Federal Board of Revenue (FBR) has made it mandatory for foreign exchange dealers/exchange companies,... Updated 23 Mar, 2024 02:52pm
Business & Finance Tax system digitalisation: PTBA says concerned at certain provisions of new SRO KARACHI: The Pakistan Tax Bar Association (PTBA) has raised concerns over certain provisions of the recently issued... Updated 23 Mar, 2024 09:00am
Pakistan Cable manufacturer challenges ‘automatic selection’ of case LAHORE: A cable manufacturer has challenged automatic selection of his case for audit, saying that the audit... Published 22 Mar, 2024 04:57am
Print Non-submission of comments: PHC attaches salary of FBR chief? ISLAMABAD: The Peshawar High Court (PHC) has attached the salary of the chairman of the Federal Board of Revenue... Updated 20 Mar, 2024 08:46am
Business & Finance Taxpayer gets reimbursed amount recovered from his bank account LAHORE: Due to the tax authorities’ failure to specify a reasonable payment timeframe, a corporate taxpayer... Published 19 Mar, 2024 04:53am
Print Manually or electronically: President says taxpayers to get equal treatment ISLAMABAD: President of Pakistan has ruled that the filers of income tax returns manually would now be able to enjoy... Updated 18 Mar, 2024 09:54am
Pakistan Compliant taxpayers, exporters: PM to give away awards on 21st ISLAMABAD: Prime Minister Shehbaz Sharif has decided to give awards/certificates to compliant taxpayers and ... Published 17 Mar, 2024 02:49am
Print PM directs Ministry to explore possibility of Panda Bonds Directions issued to shore up depleting foreign exchange reserves Updated 16 Mar, 2024 10:14pm
Print FBR’s applications rejected: IHC asserts its jurisdiction ISLAMABAD: The Islamabad High Court (IHC) rejecting the applications of the Federal Board of Revenue (FBR) ruled... Updated 16 Mar, 2024 03:06pm
Business & Finance Pending refunds: five RTOs comply with FTO’s directives ISLAMABAD: The Regional Tax Offices (RTOs) of Karachi, Gujranwala, Faisalabad, Lahore and Sialkot have followed... Published 15 Mar, 2024 04:14am
Business & Finance Tribunal reduces penalty disproportionate to gravity of sales tax default? LAHORE: An Inland Revenue appellate tribunal has reduced penalty against defaulter of sales tax owing to... Published 12 Mar, 2024 04:27am
Print ‘Collecting funds from IESCO accounts’: IHC issues contempt notices to FBR officials ISLAMABAD: The Islamabad High Court (IHC) issued contempt notices to the Chief Policy Federal Board of Revenue (FBR)... Updated 11 Mar, 2024 09:59am
Business & Finance RTO Rawalpindi disallowed to attach taxpayer’s bank accounts ISLAMABAD: The Lahore High Court (LHC) Rawalpindi Bench has barred the Regional Tax Office (RTO) Rawalpindi from... Published 07 Mar, 2024 04:59am
Business & Finance Reduction in number of active taxpayers raises concerns KARACHI: The Federal Board of Revenue (FBR) has reported a staggering 41 percent drop in the number of active... Published 07 Mar, 2024 04:59am
Business & Finance Attachment of bank accounts: Software co gets amount recovered by tax department reimbursed LAHORE: A software development company has succeeded in getting reimbursed the amount recovered by the tax ... Published 23 Feb, 2024 06:36am
Business & Finance Taxpayers’ disputes with FBR: FTO’s IDRC resolves 347 cases without litigation ISLAMABAD: The Informal Dispute Resolution of Complaints (IDRC) of the Federal Tax Ombudsman (FTO) has resolved 347... Published 18 Feb, 2024 03:01am
Business & Finance FBR chief visits LTO Karachi ISLAMABAD: Chairman FBR Malik Amjed Zubair Tiwana and Member-IR (Operations) Mir Badshah Khan Wazir visited Large... Published 17 Feb, 2024 05:51am
Business & Finance Most FBR representations against FTO rejected ISLAMABAD: President Arif Alvi has rejected most of the representations filed by the Federal Board of Revenue (FBR)... Published 16 Feb, 2024 06:02am
