Tag Archives: Income Tax Rules 2002

FBR officers empowered to obtain stock brokers information directly from NCCPL

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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

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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

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

All perks to be included under salary income for calculating tax

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KARACHI: Federal Board of Revenue (FBR) has said that all perquisites, allowances and benefits received by an employee will be calculated under the head of salary and will be chargeable to tax.

Commissioner empowered to issue trial tax number without CNIC

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ISLAMABAD: Federal Board of Revenue (FBR) has authorized a Commissioner Inland Revenue to issue a trial registration number (TRN) without mentioning Computerized National Identity Card (CNIC) on it while registering an identified taxpayer.

FBR issues rules for computation of capital gain tax

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ISLAMABAD: Federal Board of Revenue (FBR) has issued a notification for the calculation of capital gain tax on the transaction of commodities in Pakistan Mercantile Exchange (PMEX).

FBR notifies rules for determination of bonus shares value issued by companies not quoted on stock exchange

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ISLAMABAD: Federal Board of Revenue (FBR) has issued rules for determination of value of bonus shares issued by a company not quoted on the stock exchange to the shareholders of the company.

FBR issues draft rules for tax computation of bonus shares issued by companies not quoted on stock exchange

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ISLAMABAD: Federal Board of Revenue (FBR) has issued draft rules for computation of income tax on bonus shares issued by companies not quoted on the stock exchange.

FBR issues rules for implementing property valuation tables

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ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday issued draft rules for implementing laws related to immovable property valuation, which were made part of statute on July 31, 2016.

Building plan may be cancelled on tax default; FBR issues draft rules for builders, developers

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ISLAMABAD: Federal Board of Revenue (FBR) has issued draft rules for computation of tax liabilities on builders and developers under fix tax regime announced in the budget 2016/2017. Under the proposed amendments chief commissioner Inland Revenue may request the building control authority for suspension or cancellation of building plan in case of payment default.