Category Archives: Inland Revenue

FBR revives circle system to identify potential taxpayers

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ISLAMABAD: Federal Board of Revenue (FBR) has revived income tax circle system to tap potential taxpayers and enhance facilitation for existing taxpayers at district level.

SRB explains tax payable on franchise services

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KARACHI: Sindh Revenue Board (SRB) has explained tax payable on services rendered by franchise and in this regard the provincial revenue authority amended the Sndh Sales Tax on Services Rules, 2011.

Banks to remain open for extended hours on June 30 for revenue collection

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KARACHI: State Bank of Pakistan (SBP) on Wednesday announced that commercial banks will remain open for extended hours on June 30, 2017 to facilitate the collection of duty and taxes.

Inland Revenue offices to work extended hours before, after Eid holidays for revenue collection

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ISLAMABAD: Federal Board of Revenue (FBR) has made special arrangements for collection of revenue before and after Eid holidays in order to achieve revenue collection target of Rs3,521 billion for current fiscal year.

FBR clarifies tax treatment of Islamic financial institutions

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ISLAMABAD: Federal Board of Revenue (FBR) has issued clarification regarding interpretation of certain provisions of the income tax laws in the context of Islamic banking.

NCCPL to collect monthly capital gain tax on June 29

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KARACHI: National Clearing Company of Pakistan Limited (NCCPL) on Monday announced that amount of Capital Gain Tax (CGT) for the month of May 2017 will be collected on June 29, 2017.

Past concessionary SROs to be presented for parliamentary approval

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ISLAMABAD: The government has decided to take parliamentary approval for concessionary SROs issued in the past instead of extending through Finance Bill 2017.

FBR rejects de-registration of three customs agents

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KARACHI: Federal Board of Revenue (FBR) has rejected the application for de-registration of three customs agents and said that the scrutiny revealed that such agents are found in providing services within the federal jurisdiction.

One percent further tax imposed on zero-rated supplies

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ISLAMABAD: The government imposed one percent further sales tax on five export oriented sector, which will be implemented from July 01, 2017.

Income Tax on mutual fund dividend reduced to 10 percent

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ISLAMABAD: The government has decided to withdraw the tax rate on dividend received from mutual funds from proposed rate of 12.5 percent to 10 percent.