Karachi: The government has lined up several tax exemptions for small and medium sized enterprises, the finance minister said on Saturday a move aimed to achieve five percent growth target set for the current fiscal year. Finance Minister Shaukat Tarin said sectors such as housing, information technology and trade needed a special focus to achieve… Continue reading Government Plans Tax Cut for Small Businesses
The Federal Board of Revenue (FBR), under the Act of Anti-Money Laundering, must ensure that the real estate agents, developers, precious metal and stones dealers, jewelers and FBR supervised accountants are registered as designated non-financial businesses and professions (DNFBP). However, financial institutions, lawyers, law firms, notaries and non-FBR supervised accountants will fall under other competent… Continue reading DNFBPs Obliged to Register with FBR
Karachi:Federal Board of Revenue (FBR) officials raided the infamous Gul Plaza in Karachi. The raid took place on Monday with officials taking hold of the critical financial record and sealing the shops of the tax violators. FBR reportedly said that they had previously sent the tax notices to the shop owners a week ago and… Continue reading FBR Raids Gul Plaza for Tax Violators
Islamabad: Federal Board of Revenue (FBR) has increased sales tax rate on supply of food stuff by restaurants, bakeries, caterers and sweet meats shops to 17 percent. The FBR recently issued Circular No. 07 of 2022 to explain amendment introduced in the Sales Tax Act, 1990, through Finance (Supplementary) Act, 2022. Earlier, the tax body… Continue reading FBR Imposes 17% Sales Tax on Bakeries, Restaurants and Sweetmeat.
ISLAMABAD: Without first establishing a legally compliant and well-integrated system, the Federal Board of Revenue (FBR) plans to launch the unified sales tax return filing facility on Tuesday. One of the World Bank’s requirements for releasing a $400 million loan is the online portal, which is expected to be inaugurated by Prime Minister Imran Khan… Continue reading The FBR Intends To Launch a Single Sales Tax Return Portal