Tag Archives: Income Tax Rules 2002

Tax payment made mandatory seven days ahead of amount remitting abroad

ISLAMABAD: Federal Board of Revenue (FBR) has made it mandatory for persons making payments abroad to pay taxes seven days prior to remitting the amount to non-resident.

FBR officers empowered to obtain stock brokers information directly from NCCPL

KARACHI: The officers of Federal Board of Revenue (FBR) has been empowered to obtain information regarding stock brokers and investors directly from National Clearing Company of Pakistan Limited (NCCPL).

FBR issues common reporting rules for exchange information under OECD’s prevention of tax evasion

ISLAMABAD: Federal Board of Revenue (FBR) has issued draft rules for exchanging information of non-residents having bank accounts in Pakistan with member countries of Organization for Economic Cooperation and Development (OECD) for prevention of tax evasion in cross border money transfer.

Limited entertainment expenditures allowed on business income

KARACHI: Federal Board of Revenue (FBR) said that business persons can avail limited deduction of expenditures incurred on business meetings while calculating taxable income.

FBR issues draft amendments to income tax rules

KARACHI: Federal Board of Revenue (FBR) on Thursday issued draft amendments to Income Tax Rules, 2002 for making changes in apportionment of expenses.

FBR issues draft rules for PE, non-PE income tax registration

KARACHI: The Federal Board of Revenue (FBR) has issued draft amendment for document requirement for income tax registration of a non-resident having permanent establishment (PE) and a non-resident company not having permanent establishment in Pakistan.

All prerequisites, allowances to be calculated under salary for income tax

KARACHI: The Federal Board of Revenue (FBR) has said that for the purpose of income tax under the head of salary income the value of all prerequisites, allowances and benefits provided by the employer to the employee will be included in such income.