Tag Archives: income tax

FBR issues income tax salient features announced in budget 2017/2018


ISLAMABAD: Federal Board of Revenue (FBR) on Friday issued income tax salient features announced in the budget 2017/2018.
Revenue generation measures:

List of cases selected for income tax audit


ISLAMABAD: Federal Board of Revenue (FBR) has selected the following list of cases selected for audit through computer ballot for Tax Period Jul-2014 to Jun-2015 Income Tax corporate and non-corporate taxpayers.

Budget 2016/2017: Relief, measures introduced in income tax


KARACHI: The government has announced relief and revenue measures in income tax in order to broaden the tax base and giving incentives to certain class of taxpayers.

Economic Survey 2015/2016: Customs duty exemptions increase despite elimination of SROs


KARACHI: Duty exemption and concession given on consignment clearance registered growth of 16.50 percent increase despite claims of the federal government of phasing out the discriminatory regime.

Tax Proposals 2016/2017: Income tax slab limit from 0.4m to 0.6m demanded

KARACHI: Gujranwala Chamber of Commerce and Industry has proposed to increase the income tax slab limit from 4,00,000 to 6,00,000 rupees and software for filing income tax return must be error free to relieve filers while filing returns online.

FBR demanded to adjust sales tax refunds with income tax liabilities


KARACHI: The Federal Board of Revenue (FBR) has been urged to adjust the sales tax refunds with income tax liabilities to alleviate the unnecessary cash flow problems faced by the registered persons.

Salaried persons contribute Rs79.46bn or 23.1pc higher as income tax; FBR officials see more potential


KARACHI: Salaried persons have paid Rs79.46 billion as income tax during 2014/2015 toward national exchequer, which is 23.1 percent higher than Rs64.552 billion in the preceding fiscal year, as per statistics issued by the FBR this week.

Logo for Inland Revenue Wing to be launched


KARACHI: A dedicated logo for Inland Revenue Wing will be introduced for the identity of the department, which collects about 90 percent of the revenue collected by Federal Board of Revenue (FBR).

Procedure laid down to evaluate vehicle price purchased from undeclared income


KARACHI: The Federal Board of Revenue (FBR) has laid down procedure for valuation of vehicles for income determination that are purchased from unexplained, concealed or undeclared income.

History of tax amnesties in Pakistan


KARACHI: The voluntary tax compliance scheme for traders – subject to passage by the parliament – is the 10th amnesty scheme offered to taxpayers in a bid of the Federal Board of Revenue (FBR) to increase the number of taxpayers.