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Budget approved by NA ahead of fresh IMF loan

The approved budget includes several amendments from the original proposal presented on June 12

Updated 29 Jun, 2024 02:13pm

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Additional taxation steps taken thru amendments to Finance Bill

Surcharge shall be payable by every individual and association of persons at the rate of 10 percent of the income tax imposed under Division-I of Part-I of the First Schedule where the taxable income exceeds Rs10 million

Updated 29 Jun, 2024 07:43pm

Business & Finance

Defined benefit plans: Income tax dept disallows actuarial loss to cellular company

LAHORE: The income tax department has disallowed actuarial loss to a cellular company on its defined benefit plans,...

Published 27 Jun, 2024 06:52am

Editorials

IMF has role in budget: nothing but the truth

EDITORIAL: Prime Minister Shehbaz Sharif stated on the floor of the House after the wind-up speech of the Federal...

Published 27 Jun, 2024 06:52am

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Bank deposits: Non-filers can face prospect of 30pc tax

ISLAMABAD: The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) President Atif Ikram Sheikh and...

Updated 25 Jun, 2024 08:28am

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Foreign travel ban on non-filers: NICOP holders, minors, students to be exempted

Tax expert questions how FBR would impose ban on non-filers (family members), who are actually dependent on the filer

Updated 24 Jun, 2024 01:33pm

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Disposal of immovable property: 15pc flat rate on gain proposed

ISLAMABAD: Finance Bill 2024 has proposed a flat rate of 15 percent on gain from disposal of immovable property...

Updated 24 Jun, 2024 08:41am

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Govt assailed for further taxing the salaried class

Lawmakers say imposition of such heavy taxes may lead to an acceleration of brain drain from the country

Updated 22 Jun, 2024 02:10pm

Business & Finance

‘Federal budget appears to be more politically driven’: HCST&SI

HYDERABAD: Muhammad Farooq Shaikhani, President Hyderabad Chamber of Small Traders & Small Industry...

Published 14 Jun, 2024 06:31am

Business & Finance

New section added to ST Act 1990: Concept of ‘investigative audit’ introduced

ISLAMABAD: A major change having far-reaching consequences proposed in the Finance Bill 2024 is the introduction of...

Published 13 Jun, 2024 06:22am

Business & Finance

Return of income Tax: Prosecution for company failing to furnish info proposed

ISLAMABAD: The government has proposed prosecution for any company including banks and association of persons (AOPs)...

Published 13 Jun, 2024 06:22am

Business & Finance

Glitch in IRIS portal: Taxpayers unable to submit applications

KARACHI: A glitch in the IRIS portal has made it impossible for the registered taxpayers to submit applications to...

Published 11 Jun, 2024 03:17am

Pakistan

IHC refers case to FBR chairman on IRIS system glitches

ISLAMABAD: Islamabad High Court (IHC) has referred a case to chairman Federal Board of Revenue (FBR), to address the...

Published 10 Jun, 2024 06:52am

Business & Finance

Move to defend stance before FTO: Taxpayer’s lawyer declared habitual litigant by CTO

ISLAMABAD: The Federal Board of Revenue’s Corporate Tax Office, Islamabad recently adopted an unconventional novel...

Published 07 Jun, 2024 06:24am

Business & Finance

FBR asked to stop harassing taxpayers by demanding individual CPRs

ISLAMABAD: The Federal Tax Ombudsman (FTO) has expressed serious concern that the Federal Board of Revenue (FBR) is...

Published 07 Jun, 2024 06:24am

Pakistan

Delay in payment of refunds major area of concern for FTO’s office: Jah

ISLAMABAD: Federal Tax Ombudsman (FTO) Dr Asif Mahmood Jah has said the taxpayers are fully confident to obtain ...

Published 31 May, 2024 06:58am

Business & Finance

FTO issues instructions to FBR: Field formations should not demand individual CPRs from taxpayers

ISLAMABAD: The Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) that the field formations...

Published 29 May, 2024 06:05am

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Upcoming budget: FBR to issue new rules to process pending refund applications

ISLAMABAD: The Federal Board of Revenue (FBR) will issue new rules and regulations in budget 2024-25 to...

Updated 28 May, 2024 08:35am

Business & Finance

FBR asked to adopt all modes of service of notices to taxpayers

ISLAMABAD: The tax advisors have asked the Federal Board of Revenue (FBR) to instruct its field formations to adopt...

Published 28 May, 2024 05:30am

Pakistan

KMU hosts awareness session on taxpayer rights

PESHAWAR: Khyber Medical University (KMU) hosted an awareness session on safeguarding taxpayers’ rights at Dr...

Published 27 May, 2024 05:52am

Business & Finance

Tax officer rejects refund claims against commission paid outside Fata

LAHORE: A taxation officer has rejected refund claims against the commission paid to taxpayers for the sale of...

Published 25 May, 2024 06:33am

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11,252 SIM cards of non-filers blocked so far

ISLAMABAD: The Federal Board of Revenue (FBR) has so far blocked 11,252 SIMs of non-filers of income tax returns....

Updated 24 May, 2024 09:17am

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FBR to issue uniform tax recovery rules in budget

ISLAMABAD: The Federal Board of Revenue (FBR) will issue uniform sales tax, income tax and federal excise recovery...

Updated 23 May, 2024 09:16am

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No super tax payable on income falling under FTR: Karachi ATIR

ISLAMABAD: The Appellate Tribunal Inland Revenue (ATIR), Karachi, has declared that no super tax is payable on...

Updated 23 May, 2024 08:45am

Business & Finance

KPRA continues crackdown on non-compliant taxpayers

PESHAWAR: To improve tax compliance and discourage tax evasion, the Khyber Pakhtunkhwa Revenue Authority (KPRA)...

Published 20 May, 2024 05:44am

Business & Finance

Taxpaying traders & industrialists should be respected: LCCI

LAHORE: President of the Lahore Chamber of Commerce and Industry, Kashif Anwar, emphasized that the taxpayer traders...

Published 17 May, 2024 05:50am

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Blocking SIM cards of non-filers: IHC stays govt decision

ISLAMABAD: The Islamabad High Court (IHC) on Tuesday stayed the Federal Board of Revenue’s (FBR’s) decision to block...

Updated 15 May, 2024 09:18am

Business & Finance

Filing of reference before high court: Mandatory payment of 30pc may be withdrawn: PTBA

KARACHI: Pakistan Tax Bar Association (PTBA) has urged the ministry of law and justice to withdraw the mandatory...

Published 15 May, 2024 05:47am

Editorials

New economic order or the same old one?

EDITORIAL: Federal Finance Minister Muhammad Aurangzeb during his speech at a seminar organised jointly by the...

Published 14 May, 2024 05:18am

Business & Finance

PCJCCI holds awareness session about role & functions of FTO

LAHORE: Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) organized an awareness session for ...

Published 14 May, 2024 05:18am