The Income Tax Ordinance 2001 has clearly laid down the condition that the name of the late filer of income tax return would appear in the ‘active taxpayers list’ only after payment of surcharge of Rs. 20,000 for companies; Rs 10,000 for association of persons (AOPs) and Rs 1,000 for individuals. This condition has been …
Late Tax Filers Will Appear on ATL After Paying a Fine Read More »
The Federal Board of Revenue (FBR) has designated the Director-General of Designated Non-Financial Business and Professions (DNFBPs) as the Appellate Body for hearing of appeals against the sanctions imposed, including monetary and administrative penalties on real estate developers/builders, jewelers, and accountants. Through a notification issued by the FBR on Monday, the real estate agents, housing …
FBR Designates DG DNFBPs to Hear Appeals Against Sanctions Read More »
The Federal Board of Revenue (FBR) has been barred from initiating proceedings against legally valid declaration under the Foreign Exchange Regulation Act, 1947, Protection of Economic Reforms Act, 1992, and the Anti-Money Laundering Act, 2010 (section XII-A of the Schedule) with respect to assets, income or expenditure declared under the amnesty scheme of Voluntary Declaration …
FBR Barred From Initiating Proceedings Against Amnesty Scheme Declarants Read More »
Dr. Reza Baqir, Governor State Bank of Pakistan, and the relevant stakeholders discussed the cross-cutting issues pertaining to the National Database and Registration Authority (NADRA), Pakistan Telecommunication Authority (PTA), and Federal Board of Revenue (FBR). The attendees suggested the formation of working groups to address specific issues related to taxation in digital financial services, integration …
Issues in PTA, NADRA And FBR Should be Fixed to Promote a Digital Financial Ecosystem Read More »
The Federal Board of Revenue (FBR) has released a list of 988 projects registered with the FBR to avail tax amnesty scheme under the Prime Minister’s incentive package for the construction sector. The FBR has uploaded the names and complete addresses of the 988 individuals, companies, and firms registered under section 100D of the Income …
The government has promulgated the Tax Laws (Second Amendment) Ordinance, 2021, to withdraw 76 corporate income tax exemptions and allow tax credit facility to many sectors from March 24, 2021. Officials told Propakistani that the government has also given exemption of sales tax on auto-disable syringes and raw materials used in the manufacturing of such …
With growing concerns on the quality of service parameters, including call drop, call quality, and data throughput, Pakistan Telecommunication Authority (PTA) has decided to amend the cellular mobile network quality of service (QoS) regulations. The proposed regulations would be called ‘cellular mobile network quality of service (QoS) regulations 2021.’ QoS refers to the ability of …
PTA to Amend Cellular Network Quality Regulations for Mobile Companies Read More »
The Federal Board of Revenue (FBR) has extended the deadline for the furnishing of the Taxpayer’s Profile required to be submitted under Section 114A to 30 June 2021, and issued a circular in this regard on Friday. Earlier, the FBR had also issued a statement declaring that the names of thousands of taxpayers will be …
FBR Extends Deadline for Updation of Taxpayer’s Profile Till June 30 Read More »