Tax
Government Moves to Close Tax Loophole for Banks
ISLAMABAD: On Thursday, the government announced efforts to close a legal loophole that allows commercial banks to evade an estimated Rs200 billion in income taxes…
Unresolved Tax Issues Will Further Damage IT Exports; Says IT Ministry
Data from the State Bank of Pakistan shows that ITeS revenue is at a 10% month by month decline and at 4% year on year…
Government Imposes Upto 500% Additional Taxes On imported Cars
Islamabad: The Government of Pakistan has increased taxes on imported cars by Upto 500%. The action has been taken to preserve the domestic auto industry…
Customs duties, taxes over Rs. 1 million to be paid online from January 15, 2021
Pakistan Customs has announced that starting from January 15, 2021, the payment of customs duties and taxes amounting to Rs. 1 million or more will…
KPK collects 66% more tax in FY19-20 over previous year
The Khyber Pakhtunkhwa Revenue Authority has reported a tax collection of Rs. 17.158 billion in the 2019-20 financial year, over Rs. 10.354 billion in the…
Punjab Government reduces tax on ride-hailing services by bringing them into sales tax net
In the new Financial Bill 2020, the Government of Punjab has created a new category in the sales tax net for ride-hailing services. Previously, ride-hailing…
FBR collected over Rs. 23 Crore in revenue from imported mobile phones this year
In a recent meeting of Senate Standing Committee on Information Technology and Telecom, an official of Federal Board of Revenue (FBR) has told that the…
FBR to launch single online tax portal for filers
The Federal Board of Revenue (FBR) and four provincial governments have agreed to introduce an online portal facility for taxpayers to submit their sales tax…
Mobile phone dealers demand to unblock all used phones via an amnesty scheme
The mobile phone dealers in Khyber Pakhtunkhwa have rejected the tax imposed by the government on used mobile phones and demanded the authorities to verify…
FBR reduces upto 45% tax on imported mobile phones
In its effort to discourage the mobile phone smuggling mafias in the country, Federal Board of Revenue (FBR) has reduced the tax on imported phones…
Sindh govt clarifies tax imposed on ride-hailing services is 5% not 13% [Update]
According to a recent statement issued by the Sindh Revenue Board (SBR) to clarify the confusion about tax imposed on ride-hailing companies, the board maintained…
The tax imposed on ride-hailing companies will be a huge economic burden for drivers in Sindh
The bill for Fiscal Year 2019-20 was announced by the federal government just over a week ago and now the provincial governments are finalizing their…
Now you will have to pay tax even if you bring a single phone to Pakistan
[Update] The article has been updated to add the effectivity date of govt’s decision. As we previously reported that the government has allowed international travelers to…