Trends - income tax ordinance - Business Recorder

Print

Notices issued by FBR’s Directorate I&I set aside by court

ISLAMABAD: The Lahore High Court (LHC) has observed that the business community has agitated that the Directorate of...

Updated 11 Sep, 2022 10:52am

Opinion

Determining an individual’s residency status: some taxation anomalies

The Finance Act, 2022 has virtually decided that a Pakistani citizen can be taxed in Pakistan even if he never comes...

Published 24 Aug, 2022 05:08am

Business & Finance

Inordinate delays in dispute resolution impair overall tax governance: SC

ISLAMABAD: The Supreme Court held and declared that Rule 22(1) of Appellate Tribunal Inland Revenue Rules, 2010 to...

Published 07 Aug, 2022 05:44am

Business & Finance

Broadening tax base: FBR negligence tantamount to misrule: FTO

Investigation concludes field formations are not vigilant in procuring information related to unregistered buyers of sugar

Updated 30 Jul, 2022 11:59am

Business & Finance

Tax incentives granted to film industry by FBR

ISLAMABAD: The Federal Board of Revenue (FBR) has granted a number of tax incentives to the film industry from July...

Published 27 Jul, 2022 05:23am

Business & Finance

Immovable property deals: Boards of revenue told to collect enhanced WHT under Sec 236C

New rates of advance tax on sale/transfer and purchase of immovable properties will be applicable from July 1, 2022

Updated 26 Jul, 2022 11:59am

Opinion

Taxing nation’s savings – but at what cost?

The budget 2022-23 is continuation of a series of budgets for the last several years that have been increasing tax...

Updated 25 Jun, 2022 05:16pm

Business & Finance

FBR extends deadline

ISLAMABAD: The Federal Board of Revenue (FBR) has extended the deadline by June 15, 2022, for the filing of...

Published 02 Jun, 2022 06:19am

Opinion

Digital mode of payment

An amendment was introduced to the Income Tax Ordinance, 2001 (ITO) in September 2021, vide presidential ordinance ...

Published 01 Jun, 2022 05:53am

Print

FBR asked to disclose all amnesty scheme-related details

ISLAMABAD: Pakistan Information Commission (PIC) has directed the Federal Board of Revenue (FBR) to disclose...

Updated 23 May, 2022 09:53am

Print

Rectification of tax credit : FTO seeks clarification from FBR

ISLAMABAD: The Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to issue a clarification...

Updated 14 May, 2022 09:48am

Business & Finance

KTBA takes strong exception to FBR’s show-cause notices

KARACHI: The Federal Board of Revenue (FBR) has started issuing notices, asking the taxpayers to show why the tax...

Published 26 Apr, 2022 05:20am

Print

FBR to present draft IR Code to minister for approval

ISLAMABAD: The Federal Board of Revenue (FBR) will present the draft of the Inland Revenue Code to Finance Minister...

Updated 24 Apr, 2022 09:12am

Print

FBR yet to implement some major reforms

ISLAMABAD: The Federal Board of Revenue (FBR) has yet to implement some major reform initiatives of the former PTI...

Updated 18 Apr, 2022 10:28am

Pakistan

Representations of FBR rejected: President upholds three redressal orders of FTO

ISLAMABAD: President Arif Alvi has rejected three representations filed by the Federal Board of Revenue (FBR) ...

Published 25 Feb, 2022 06:19am

Pakistan

NGOs, trusts & entities: FBR urged to issue instructions to PRAL to change status

LAHORE: The Pakistan Tax Bar Association (PTBA) has urged Chairman Federal Board of Revenue (FBR) to issue...

Published 05 Dec, 2021 04:26am

Business & Finance

Tax Year 2020: LTO Lahore verifies 118 refund claims of Rs100m, below

LAHORE: The Large Tax Office (LTO) Lahore has verified 118 income tax refund claims of Rs 100 million and below for...

Published 01 Dec, 2021 03:52am

Print

Digital mode: Corporate taxpayers allowed to switch over by Nov 1

ISLAMABAD: The Federal Board of Revenue (FBR), Thursday, issued an income tax circular to clarify that the corporate...

Updated 24 Sep, 2021 10:02am

Business & Finance

Non-filers: Expert delineates 3 major changes in penalty regime

ISLAMABAD: The Federal Board of Revenue (FBR) has tightened the penalty regime for the non-filers of the income tax...

Published 21 Sep, 2021 04:10am

Print

WHT collection: Decline from cash withdrawals from banks witnessed

ISLAMABAD: The Federal Board of Revenue (FBR) has witnessed a negative 0.2 percent growth in withholding tax...

Updated 17 Sep, 2021 09:51am

Business

FTO’s directives: FBR issues notices to 3,574 unregistered WHT agents

ISLAMABAD: On the directives of the Federal Tax Ombudsman, the Federal Board Revenue (FBR) has issued notices to the...

Published 05 Sep, 2021 04:26am

Print

Adjustment of WWF liability: SHC grants interim relief to taxpayers

ISLAMABAD: The Sindh High Court (SHC) has granted interim relief to the taxpayers against the Federal Board of...

Published 27 Aug, 2021 03:09am

Print

Willful tax defaulters, non-filers: New policy to lay down third-party audit mechanism

ISLAMABAD: The new Audit Policy 2021 of the Federal Board of Revenue (FBR) will lay down a mechanism for third-party...

Updated 28 Jul, 2021 10:07am

Opinion

Concealment of income and unexplained assets

This is the third part of a multi-part series of articles on the subject of concealment of income, anti-money...

Published 20 Jul, 2021 04:14am

Print

Concealment of income declared cognizable offence

ISLAMABAD: The Federal Board of Revenue (FBR) has declared concealment of income as a cognizable offence and the...

Updated 02 Jul, 2021 08:34am

Business & Finance

FBR introduces fixed tax scheme for manufacturing SMEs

ISLAMABAD: The Federal Board of Revenue (FBR) Thursday announced a special tax regime for manufacturing sector's...

Published 02 Jul, 2021 04:19am

Business

Audit proceedings: Taxpayer or rep not required to appear before IR officers: FBR

ISLAMABAD: The Federal Board of Revenue (FBR) has announced that the taxpayer or his authorised representative would...

Published 01 Jul, 2021 04:09am

Business & Finance

Willful defaults: Amended Finance Bill specifies tax arrest body

ISLAMABAD: A committee comprising the finance minister, the chairman Federal Board of Revenue (FBR) and the FBR's...

Published 30 Jun, 2021 03:54am

Business & Finance

Appeal against assessment: Taxpayers shocked over ‘harsh’ tax amendment proposal

ISLAMABAD: Taxpayers are shocked over a harsh and unjustified income tax amendment to the Finance Bill 2021, under...

Published 18 Jun, 2021 04:16am

Pakistan

LCCI urges govt to withdraw Section 203 (A) from IT Ordinance

LAHORE: The Lahore Chamber of Commerce & Industry has urged the government to withdraw recently added Section ...

Published 16 Jun, 2021 03:40am