Category Archives: Budget 2016-2017

Tax-to-GDP ratio increases to 10.5pc in FY2016: Dar

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ISLAMABAD: The tax to GDP ratio has increased above expectation to 10.5 percent in fiscal year 2016/2016 due to hectic efforts of Federal Board of Revenue (FBR) to surpass the revenue collection target set for the last fiscal year.

Withholding Tax Card 2016/2017: tax on motor vehicles

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KARACHI: The Federal Board of Revenue (FBR) has updated advance tax rates to be paid at the time of motor vehicle tax paid by filers and non-filers during fiscal year 2016/2017.

Withholding Tax Card 2016/2017: sale, purchase of shares

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KARACHI: The Federal Board of Revenue (FBR) has updated advance tax rates on sale and purchase of to be collected by a stock exchange from its members during fiscal year 2016/2017.

Withholding Tax Card 2016/2017: brokerage and commission

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KARACHI: The Federal Board of Revenue (FBR) has updated withholding tax rates on payment of brokerage and commission applied on filers and non-filers applicable during fiscal year 2016/2017.
Section 233 of Income Tax Ordinance, 2001

FBR highlights provisions to increase cost of doing business for non-filers

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KARACHI: Federal Board of Revenue (FBR) has highlighted provisions of tax laws through which cost of doing business for non-filers has been increased further by applying higher tax rates of payments and transactions made during fiscal year 2016/2017.

FBR introduces new withholding tax provisions through Finance Act, 2016

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KARACHI: The Federal Board of Revenue (FBR) has said that various new withholding tax provisions have been introduced through Finance Act, 2016.

Eight amendments introduced for taxation of immovable property through Finance Act 2016: FBR

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KARACHI: Federal Board of Revenue (FBR) on Wednesday said that about eight amendments have been introduced to Income Tax Ordinance, 2001 through Finance Act, 2016 regarding taxation of immovable properties in which withholding tax on transfer of property has been increased by 100 percent for filers and non-filers of income tax return.

Withholding Tax Card 2016/2017: private motor vehicles

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KARACHI: The Federal Board of Revenue (FBR) has updated advance tax rates on registration or leasing of private motor vehicles applicable at different rates for filers and non-filers during fiscal year 2016/2017.

Withholding Tax Card 2016/2017: cash withdrawal from banks

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KARACHI: The Federal Board of Revenue (FBR) has updated withholding tax rates on cash withdrawal fro a bank by filers and non-filers of income tax returns during fiscal year 2016/2017.

Withholding Tax Card 2016/2017: payment of commission to petroleum dealers

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KARACHI: The Federal Board of Revenue (FBR) has updated withholding tax rates on payment of commission made by petroleum company to a petrol pump operator at the different rates specified for filers and non-filers of income tax returns during fiscal year 2016/2017.