The Federal Board of Revenue (FBR) on Wednesday implemented FBR’s new tax regime for imported Items, rules for taxing imported goods. FBR introduced it through (Twelfth Schedule of Income Tax Ordinance, 2001) Schedule XII of the Income Tax Ordinance 2001.
The FBR’s new tax regime for imported Items issued through SRO 715 (I) / 2020 for the implementation of new rates of taxes on the import of goods.
The new 12th Schedule 2020 introduced by the Finance Act. To rationalize the tax on imports by shifting the rates from person specific rates to the goods specific rates. Such as………….To READ MORE (CLICK HERE)