Tag Archives: Finance Act 2015
KARACHI: The Federal Board of Revenue (FBR) may impose 100 percent of payable tax as penalty on a taxpayer for making false or misleading statement regarding his return of income or wealth statement.
KARACHI: Tax card for persons driving salary income during tax year 2016. The rate amended through Finance Act, 2015 as announced in Budget 2015/2016.
KARACHI: Tax rate card for individual business persons for the tax year 2016. The rates amended through Finance Act, 2015 as announced in Federal Budget 2015/2016
KARACHI: The Federal Board of Revenue (FBR) on Thursday issued updated tax laws that were amended through Finance Act 2015.
KARACHI: PkRevenue.com has received many queries regarding the withholding tax on banking transactions asking whether cash withdrawal by non-filers is 0.3 percent or 0.6 percent.
KARACHI: Institute of Chartered Accountants of Pakistan (ICAP) has explains the provision of undistributed profits at 10 percent, which is introduced through Finance Act, 2015 making amendments to Income Tax Ordinance, 2001.
KARACHI: The federal government has doubled the rate of customs duty on import of fresh and dry fruits form Afghanistan from five percent to 10 percent effective from start of this fiscal year.
KARACHI: The Federal Board of Revenue (FBR) on Monday said that previously, under clause (56) of Part IV of Second Schedule, exemption from collection of tax at import stage under section 148 was available in respect of goods classified in Chapters 27, 86 and 99 of Pakistan Customs Tariff.
KARACHI: The Federal Board of Revenue (FBR) said that taxpayer availing technical service from foreign person or company is required to deduct 15 percent withholding income tax of the gross amount.
KARACHI: Non-filers of income tax returns will pay up to 17.5 percent withholding tax on interest income received from banks under Section 151(1)(b) of Income Tax Ordinance, 2001.