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Suspends fixed sales tax collection through electricity bills; tells ministers to take traders on board before making decisions.

Daily Times * Says WHT rates for industrial, commercial consumers revised July 5, 2021 The Federal Board of Revenue (FBR) has said that export of services has been brought under final tax regime with effect from July 01, 2021. The FBR in an explanation to Finance Act, 2021 stated that in line with the policy of the government to attract legal flow of remittances into the country and to promote export of services in all sectors of economy, a special regime at par with export of goods regime has been introduced through insertion of section 154A of the Income Tax Ordinance, 2001. The service pro...

FBR rules out tax amnesty scheme for construction sector The FBR logo. ISLAMABAD: The Federal Board of Revenue (FBR) has ruled out the possibility of any fresh Tax Amnesty Scheme for contractors to boost the construction sector, stating that the FBR could not forgo revenue collection of Rs 200 billion on an annual basis. During the proceedings of the Senate Standing Committee on Finance meeting, it was proposed that the withholding tax on contractors should be slashed from 7.5 percent to 1 percent and a general amnesty scheme should be provided. It was argued that it would give impetus to th...

The government has taken measures of around Rs. 506 billion including taxation measures of Rs. 264 billion and enforcement measures of Rs. 242 billion in

By Thursday Mar 11, 2021 Former FBR official says concept of filer and non-filer introduced in 2014 to discourage non-filers. Photo: Geo.tv/ file Account holders say banks have stopped their transactions in forex accounts as their name does not appear on Active Taxpayer List. Non-filers have to file taxes, pay a surcharge to FBR to avoid penalty. Even though banks are following the law, tax experts say confusion of what a tax filer is raises questions regarding the action. KARACHI: Banks in Pakistan have refused to entertain foreign exchange transactions in accounts held by individuals who ...