Pakistani citizens still have the opportunity to file their income tax returns as the last date for tax returns for 2021 has been extended by by the Federal Board of Revenue (FBR). Minister Shaukat Tarin decided to extend the date considering the constant demands from the business community. The tax collection body had received applications
What is Pakistan Single Window (PSW) and step by step registration procedure ? Pakistan Single Window (PSW) is a newly launched trade system, which provides a facility to parties involved in trade and transport to lodge standardized information and documents with a single entry point to fulfill all import, export, and transit-related regulatory requirements. For
Click below for details: Who can claim sales tax refunds ? How to file / claim sales tax refunds ? Documents required for submission of sales tax refunds Sales tax refund process Online payment of sales tax refunds
Submit Taxpayers Profiling otherwise ready to be inactive filer in FBR The Federal Board of Revenue (FBR) warned taxpayers of penal action against failure to update profile and mandatory detailed information. According to FBR, through budget 2020/2021 a new amendment was introduced, under which taxpayers were required to update their profile by providing required information.
Free use of foreign currency account outside Pakistan stopped by government. Click below for details: Foreign Currency Accounts Rules. CONDITIONS IMPOSED Important points under foreign currency rules 2020. History / background of foreign currency accounts laws in Pakistan. More: Taxation Of Gifts In Pakistan
In Recent Budget, section 236I of the Income Tax Ordinance, 2001 changed with an amendment in law. Under this changed law, active tax filers in FBR exempted from tax on educational fees. 5% Advance income tax exempted to add in amount of fees. To Read More (CLICK HERE). RELATED STORIES –How To Become Active
Withholding tax rates on sales made by manufacturers to retailers, wholesalers and distributors revised by FBR. Rates revised through amendment in Finance Act 2020. Revised Sections Under Income Tax Ordinance, 2001 a)- Section 236 G b)- Section 236 H c)- Section 236 HA TO READ MORE (CLICK HERE) RELATED STORIES -Changes in rates of
The Pak-China Joint Chamber of Commerce and Industry (PCJCCI) took initiative. That Pakistani exporters of meat should establish close business relations with Chinese enterprises to explore the Chinese meat market. PCJCCI President Zark Khan, While addressing the Pak-China Think Tank meeting. he said, “After the outbreak of Covid-19, the demand for meat increased rapidly in
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
The heads of all the welfare organizations informed that as per the instructions of the Government of Punjab, all such welfare organisations which registered with the Registrar of Joint Stock Companies Punjab should now register under the Punjab Charity Act 2018. For registration process CONTACT US (CLICK HERE FOR REGISTRATION) The deadline to apply online
