Daily Archives: April 12, 2018

FBR issues manual for tax amnesty declaration

ISLAMABAD: Federal Board of Revenue (FBR) has issued guidelines for registration and submitting declaration under money whitening scheme.

FBR conducts computerized balloting for audit selection

ISLAMABAD: The Federal Board of Revenue (FBR) Thursday conducted computerized balloting for selection of audit cases in income tax, sales tax and federal excise for tax year 2016.

SBP issues instructions on linking ATL to cash deposits into FC accounts

KARACHI: State Bank of Pakistan (SBP) has issued instructions to banks that persons on the active taxpayers list (ATL) will only able to receive foreign currency cash in their foreign currency accounts.

FBR launches real-time monitoring of restaurants

ISLAMABAD: Federal Board of Revenue (FBR) has launched real-time monitoring of sales of restaurants by reducing human interface and bringing transparency in the tax collection process.

Calculation error identified in new tax slabs for individuals

KARACHI: A calculation error has been identified in new tax slabs for non-salaried persons as Rs4.8 million annual income earners are required to pay Rs300,000 income tax and persons with annual income of Rs4,800,012 are required to pay Rs180,000 as income tax.