Industry and investors: Dispute resolution tribunal to be set up ISLAMABAD: The government has decided to establish a specialised tribunal to resolve disputes expeditiously between... Updated 13 Dec, 2023 09:22am
Print Recovery of CVT under Finance Act 2022: Taxmen’s orders are without jurisdiction: former FBR chief ISLAMABAD: All the orders passed by the taxation officers/Inland Revenue officers for the recovery of Capital Value... Updated 24 Oct, 2023 09:38am
Opinion Super tax for tax year 2023: hiked rate cannot be applied with retrospective effect In our Technical Release 1/2023 relating to the Finance Act, 2023, which was issued on June 9, 2023, our view was... Updated 26 Sep, 2023 07:32am
Editorials Taxes on real estate EDITORIAL: Representatives of the influential real estate sector informed the National Assembly Standing Committee ... Published 08 Aug, 2023 06:37am
Print Section 4C of Income Tax Ord will only have prospective effect: IHC ISLAMABAD: The Islamabad High Court (IHC) held that Section 4C of the Income Tax Ordinance, 2001 as read down, will... Updated 21 Jul, 2023 09:30am
Opinion Super tax and tax on bonus: misinterpretation of basic accounting–II Now, if the rationale, intention and equitability have to prevail, the following will be the answer: the tax super... Updated 06 Jul, 2023 06:24am
Print Wealthy persons: FBR reluctant to give info about tax payments ISLAMABAD: The Federal Board of Revenue (FBR) is reluctant to disclose vital information regarding tax payments made... Updated 20 Mar, 2023 09:00am
Business & Finance Experts for imposition of tax on Toshakhana gifts on deemed income basis ISLAMABAD: Gifts including jewelry/gold received/purchased by politicians from Toshakhana should be charged to ... Published 17 Mar, 2023 06:16am
Opinion Disclosure of beneficial ownership by companies General: These notes represent our views and comments on the draft rules proposed to be inserted in the Income Tax... Updated 02 Mar, 2023 07:13am
Print LHC has held that Section 8(2) (b) of Finance Act is valid ISLAMABAD: The Lahore High Court (LHC) held that Section 8(2) (b) of the Finance Act, 2022, is valid, ... Updated 25 Jan, 2023 08:53am
Business & Finance FBR misses Dec target: Rs225bn revenue shortfall ISLAMABAD: The Federal Board of Revenue (FBR) has suffered a massive revenue shortfall of Rs 225 billion during... Updated 01 Jan, 2023 10:07am
Business & Finance Fleecing end-consumers: FTO issues second order against MTL ISLAMABAD: Federal Tax Ombudsman (FTO) has unearthed that Millat Tractors Limited (MTL) has not passed on the relief... Published 21 Dec, 2022 06:46am
Print Failure to deposit CVT on foreign assets: Taxpayers/resident individuals liable to pay 12pc per default surcharge ISLAMABAD: The taxpayers/resident individuals who failed to deposit Capital Value Tax (CVT) on their foreign assets... Updated 20 Dec, 2022 09:37am
Print FBR exempts Reko Diq Mining Company from CVT ISLAMABAD: The Federal Board of Revenue (FBR) has exempted all assets of Reko Diq Mining Company (Private) Limited... Updated 13 Dec, 2022 09:39am
Business & Finance Pharma supplies: KTBA urges FBR to revisit clarification about ‘further tax’ KARACHI: Karachi Tax Bar Association (KTBA) has urged the Federal Board of Revenue (FBR) to revisit its earlier... Updated 09 Dec, 2022 09:25am
Print Rs38bn additional taxation measures: Tax Laws (Amend) Ord may be extended for another 120 days ISLAMABAD: The government may extend the date of the Tax Laws (Second Amendment) Ordinance 2022, which was... Updated 07 Dec, 2022 09:51am
Business & Finance FBR BoD meeting postponed: Approval of TY19 draft audit policy deferred ISLAMABAD: The Federal Board of Revenue (FBR) has not approved the draft audit policy for the Tax Year 2019 due to... Published 23 Nov, 2022 06:41am
Business & Finance Audit exemption: FBR to notify delegation of powers to IR commissioners ISLAMABAD: The Federal Board of Revenue (FBR) will issue a notification for the delegation of powers to the... Published 22 Nov, 2022 03:23am
Opinion Putting the record straight: a rejoinder In response to our article [FBR: dismal income tax collection, Business Recorder, November 11, 2022], the Federal... Updated 18 Nov, 2022 10:29am
Business & Finance Non-filers to pay increased rates of WHT ISLAMABAD: The Federal Board of Revenue (FBR) has decided to strictly monitor budgetary measures introduced under ... Updated 13 Nov, 2022 06:05pm
Business & Finance Persons not appearing on ATL: Commissioners told to enforce collection of higher rates of WHT by banks ISLAMABAD: The Federal Board of Revenue (FBR) Chairman Asim Ahmad Friday directed Chief Commissioners Inland Revenue... Updated 05 Nov, 2022 11:31am
Business & Finance Capacity charge/purchase price: PMLTC seeks exemption from sales tax ISLAMABAD: Pak-Matiari-Lahore Transmission Company Limited (PMLTC) has sought exemption from chargeability of sales... Published 01 Nov, 2022 05:55am
Print Assets declared under two statutes not subject to CVT: expert ISLAMABAD: Former chairman of the Federal Board of Revenue (FBR), Shabbar Zaidi Friday said that assets declared... Updated 29 Oct, 2022 09:46am
Business & Finance Soneri Bank earns Rs1,295m PAT for nine months ended Sept 2022 KARACHI: The Board of Directors of Soneri Bank Limited, in their 194th meeting held in Karachi on Thursday, approved... Published 28 Oct, 2022 05:58am
Business & Finance ABL’s 9-month PBT grows 50pc to 33bn YoY LAHORE: Allied Bank Limited is guided by its vision ‘to become a dynamic and efficient bank providing integrated... Published 22 Oct, 2022 06:34am
Print Purchase of immovable properties: Advance tax exemption for expatriates sought ISLAMABAD: The overseas Pakistanis including non-resident persons should be exempted from advance tax payable under... Updated 03 Oct, 2022 09:37am
Business & Finance Beverage industry: FTO endorses govt’s proposal for Rs60bn additional taxes ISLAMABAD: The Federal Tax Ombudsman (FTO) has strongly endorsed the government’s proposal to impose additional... Updated 06 Sep, 2022 12:54pm
Print Constitutionality of Section 7E of IT Ord, 2001: LHC issues notices to federal, Punjab secretaries and FBR ISLAMABAD: The Lahore High Court (LHC) issued notices to the federal and the Punjab secretaries of Finance and the... Updated 01 Sep, 2022 09:24am
Print Tax Laws Amendment Ordinance to be promulgated soon ISLAMABAD: President Arif Alvi will anytime promulgate Tax Laws Amendment Ordinance 2022 to increase the Federal... Updated 21 Aug, 2022 09:24am
Business & Finance 1H2022: NBP pre-tax profit soars 21pc to Rs33.9bn YoY KARACHI: The Board of Directors of National Bank of Pakistan “NBP” “the Bank” met on Wednesday to approve ... Published 19 Aug, 2022 05:57am
