Pakistan Customs, Tax, Shipping & Business News Resource
KARACHI: The incentive package for construction industry promulgated through a Presidential Ordinance has been incorporated in the Finance Bill, 2020. The President of Pakistan promulgated the Tax Laws (Amendment) Ordinance,…
KARACHI: The Finance Bill 2020 proposes the right of Federal Board of Revenue (FBR) to access or integrate their systems with certain agencies and organizations, will override any restrictive provisions…
KARACHI: The concept of an ‘agreed assessment’ is proposed to be introduced in the Income Tax Ordinance, 2001. Though not defined in the Ordinance, an agreed assessment represents a status…
KARACHI: Certain provisions are being introduced to define the concept of ‘tax profile’ and to prescribe penalties and other negative consequences for taxpayers who fail to file or update their…
KARACHI: An industrial undertaking will not be allowed to claim any expenditure attributable to sales made to such persons who are required to be registered but not registered under the…
KARACHI: A major incentive has been provided in the Federal Budget 2020-21 by prescribing reduced rates for certain imports. A major change has been introduced with respect to rate of…
KARACHI: A specific process has been laid down for the deemed assessment under section 120 of the Income Tax Ordinance, 2001. The Income Tax Ordinance, 2001 by way of section…
KARACHI: It is expected that the consequences and effect of the pandemic will subside in the following months and Pakistan will be again on the trajectory of growth of 3%…
ISLAMABAD: Adviser to the Prime Minister on Finance Dr Hafeez Shaikh has advised the provinces not to make their budgets on the basis of proposed Rs4.963 trillion tax collection target,…