Corporate firms accused of deducting contributions for unapproved gratuity funds LAHORE: Corporate firms are found deducting contributions made to unapproved gratuity funds while computing the... Published 26 Feb, 2023 03:27am
Business & Finance The Finance (Supplementary) Bill 2023: an analysis INCOME TAX: CAPITAL GAIN ON DISPOSAL OF SECURITIES OTHER THAN THROUGH STOCK EXCHANGE/NCCPL Capital gains arising on... Updated 18 Feb, 2023 04:04am
Opinion The Finance (Supplementary) Bill 2023: a comment General: The Finance Minister has laid Finance (Supplementary) Bill 2023 on the floor of the Parliament. (National... Published 17 Feb, 2023 06:00am
Print Real estate owned by overseas Pakistanis: UAE authorities do not share info ISLAMABAD: The tax authorities of the United Arab Emirates (UAE) have shared only twice financial information... Updated 09 Feb, 2023 08:48am
Print FY24 budget: FBR invites proposals on income tax ISLAMABAD: The income tax budget (2023-24) would focus on policy for taxation of real income, phasing out of tax... Updated 08 Feb, 2023 09:12am
Print Foreign authorities seeking properties/bank accounts info: FBR won’t intimate concerned taxpayer about request ISLAMABAD: The Federal Board of Revenue (FBR) will not intimate the concerned taxpayer about the request received... Updated 05 Feb, 2023 05:36pm
Editorials A reminder of the flaws in economic policies EDITORIAL: Match the rise in taxes to a cut in government expenditure is a cry gathering momentum not only amongst... Published 01 Feb, 2023 05:58am
Business & Finance PTVC employees’ complaints: FBR implements FTO’s recommendations ISLAMABAD: The Federal Board of Revenue (FBR) has implemented the Federal Tax Ombudsman’s (FTO’s) ... Published 28 Jan, 2023 06:20am
Opinion Taxation of immovable property The National Assembly through the Finance Act 2012 amended section 37(5) of the Income Tax Ordinance, 2001 [“the... Updated 27 Jan, 2023 11:36pm
Print All ATIR benches, Benami Tribunal become dysfunctional ISLAMABAD: All benches of Appellate Tribunal Inland Revenue (ATIR) across Pakistan and Benami Tribunal have become... Updated 26 Jan, 2023 09:15am
Business & Finance Bank attachments: Absence of grievance redressal system irks taxpayers LAHORE: Absence of grievance redressal mechanism for benefit of persons whose funds were wrongfully appropriated by... Published 25 Jan, 2023 06:25am
Print Non-filers: Govt considering imposing WHT on banking transactions ISLAMABAD: The government is considering to impose withholding tax on banking transactions of non-filers of income... Updated 24 Jan, 2023 09:01am
Print State revenue: FTO directs FBR to implement effective mechanism ISLAMABAD: The Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to implement an effective... Updated 18 Jan, 2023 08:44am
World India planning rate changes in new income tax structure India is considering lowering rates under its voluntary income tax framework and could introduce revised slabs in... Published 17 Jan, 2023 12:17pm
Business & Finance FBR directed to withdraw notice of WHT monitoring to deceased ISLAMABAD: While disposing of a complaint, the Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue... Published 14 Jan, 2023 06:22am
Print Income tax on salaried people: FBR identifies Rs28bn gap ISLAMABAD: The tax gap for income tax on salaried income is approximately Rs28 billion and non-salaried... Updated 12 Jan, 2023 10:43am
Business & Finance FBR sees Rs1289bn tax gap for 2022 ISLAMABAD: The Federal Board of Revenue (FBR) has worked out overall tax gap of Rs1,289 billion during 2022, which... Published 10 Jan, 2023 06:28am
Pakistan PAC for action against FBR officials posted in Karachi for long ISLAMABAD: The Public Accounts Committee (PAC) on Thursday ordered that all those customs, income tax, and other... Published 06 Jan, 2023 05:58am
Business & Finance Power bills: FBR collects double income tax in Karachi KARACHI: Despite being victimized by dilapidated road infrastructure, high air pollution, gas shortage,... Published 05 Jan, 2023 05:58am
Print Super tax to be applicable in TY23 and onwards: SHC ISLAMABAD: The Sindh High Court (SHC) has held that super tax on high-earning persons will not be applicable for the... Updated 23 Dec, 2022 08:59am
World Trump paid no income tax in 2020, records show WASHINGTON: Donald Trump paid no income tax during the final full year of his presidency as he reported a loss from... Published 22 Dec, 2022 06:51am
Opinion Cash surplus of provincial govts The role of the four provincial governments has increased after the 18th Amendment. They have also become entitled ... Published 20 Dec, 2022 05:58am
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
Business & Finance Revenue collection target: FBR members to brief Board-in-Council on strategy ISLAMABAD: The Federal Board of Revenue (FBR) Member Inland Revenue (Operations) and Member Customs (Operations) ... Published 15 Dec, 2022 06:00am
Opinion Shortfall in revenues The last financial year witnessed a record performance by the FBR (Federal Board of Revenue). Tax revenues increased... Published 13 Dec, 2022 05:58am
Business & Finance Income tax arrears: Nov collection up Rs2.33bn to Rs8.98bn YoY ISLAMABAD: The Federal Board of Revenue (FBR) has recovered income tax arrears of Rs8.98 billion during November... Updated 04 Dec, 2022 11:47am
Pakistan Leakage of Bajwa’s tax record: FBR extends inquiry to more officers to locate IP addresses LAHORE: After suspending two deputy commissioners over former army chief Bajwa’s tax record leakage, the Federal... Published 02 Dec, 2022 05:47am
Print Deemed income on capital assets: Taxpayers required to file new form separately ISLAMABAD: All taxpayers who have furnished their annual Income Tax Returns and wealth statements before the... Updated 02 Dec, 2022 09:49am
Opinion Lack of financial prudence This is apropos a Business Recorder op-ed “Waiting for ‘manna from heaven’” carried by the newspaper... Updated 01 Dec, 2022 06:25am
Print Finance Bill 2023: SEZs: FBR to withdraw turnover tax exemption ISLAMABAD: The Federal Board of Revenue (FBR) will withdraw exemption of turnover tax for Special Economic Zones... Updated 01 Dec, 2022 09:44am
