New Advance Tax on Air Ticket Purchases in Pakistan
The Federal Board of Revenue (FBR) has recently introduced a new Advance Tax on air ticket purchases through the Finance Supplementary Bill 2023. This tax has been implemented to generate […]
Re-Introduction of Tax on Withdrawals from Cash and Banking Transactions in Pakistan
The Pakistani government has recently announced its decision to re-introduce the tax on withdrawals from cash and banking transactions. The tax was previously abolished to ease the tax burden on […]
Changes in Late Filing Penalties for Income Tax Returns in Pakistan
The Finance Bill 2022 presented by the Pakistani government has brought significant changes in tax laws, including the Income Tax Ordinance 2001. One of the crucial changes introduced in the […]
Finance Bill 2022 Proposes Strict Measures for Increasing Tax Compliance
The Finance Bill 2022 proposes strict measures to increase the tax base and penalize non-compliant persons. These measures include penalties for non-filing of income tax returns, non-issuance of sales tax […]
Understanding the Super Tax in Pakistan: What You Need to Know
The Government of Pakistan has recently introduced a new tax called the “Super Tax” to address the budget deficit of the country. This tax is levied on 13 industries that […]
New Proposed Tax Slabs in Pakistan after Modifications by the IMF
The International Monetary Fund (IMF) has proposed modifications to the existing tax slabs in Pakistan. The new tax slabs will be applicable to salaried persons, and it is important for […]
Understanding Capital Value Tax (CVT) in Pakistan: A Comprehensive Guide
Capital Value Tax (CVT) is a tax levied on the value of an asset, specifically immovable property and motor vehicles, in Pakistan. This tax is paid by the buyer of […]
Key Tax Concessions for IT and IT Enabled Services in Pakistan
In recent years, the information technology (IT) sector has become a significant contributor to the Pakistani economy. The sector has generated employment opportunities and has played a vital role in […]
Pakistan’s Federal Board of Revenue Increases Revenue Collection Target for 2022-23
Pakistan’s Federal Board of Revenue (FBR) has set an increased revenue collection target of Rs. 7.440 trillion for 2022-23, up by Rs. 436 billion from the previous target of Rs. […]
Amendments in the Finance Bill 2022: A Review
The Finance Bill 2022 has been the topic of discussion among the Pakistani public, particularly business owners and taxpayers. The Federal Board of Revenue (FBR) and budget makers have recently […]