Daily Archives: April 1, 2018

Evidence of payment should be made mandatory for Afghan Transit Trade

KARACHI: In order to prevent smuggling under Afghan Transit Trade, it is recommended that evidence of payment of goods by Afghanistan importer to their...

Questions raised on unnecessary charging extra tax on utility bills

KARACHI: Institute of Chartered Accountants of Pakistan (ICAP) has raised questions on application of five percent extra tax on monthly utility bills to be...

Measures proposed to prevent misuse on CPEC imports

KARACHI: Federal Board of Revenue (FBR) has been suggested measures to prevent smuggling and illegal trade by taking advantage of facilitation granted to trade...

Withholding tax exemption for filers on cash withdrawal suggested

KARACHI: Federal Board of Revenue (FBR) has been suggested that income tax return filers should be granted exemption from withholding tax on cash withdrawal...

CNIC/NTN should be made mandatory on airline tickets for facilitating tax adjustment

KARACHI: Federal Board of Revenue (FBR) should make it mandatory for all airlines operating on domestic routes to ensure that NTN/CNIC of passenger or...

FBR advised to pay 2.5 percent service charges of collected amount to withholding agents

KARACHI: Chartered Accountants have advised Federal Board of Revenue (FBR) to pay 2.5 percent of the amount collected to withholding agents as service charges. Institute...

FBR urged to clarify status of taxpayers becoming withholding agent

KARACHI: Federal Board of Revenue (FBR) has been urged to clarify status of a taxpayer to become withholding agent. Institute of Chartered Accountants of Pakistan...

ICAP suggests reviewing tax on ‘income from property’ to relief lower earning group

KARACHI: Institute of Chartered Accountants of Pakistan (ICAP) has suggested the Federal Board of Revenue (FBR) to review tax on income from property to...

FBR suggested Sept 30 as last date for filing returns by salaried persons

KARACHI: Federal Board of Revenue (FBR) has been advised to amend income tax laws and extend the last date for filing annual income tax...

POL products prices reduced, sales tax rates increased

ISLAMABAD: The government on Saturday reduced prices of petroleum products but at the same time it enhanced the sales tax rates in order to...

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