If you’re a citizen of Pakistan residing in a foreign country, tax filing must be a confusing subject for you, with little-to-no information and guidelines available at hand. The truth is – you’re not alone, and everyone foreign living Pakistani seems to have major confusion regarding the tax filing process. But not anymore –… Continue reading How Overseas Pakistanis Can Become a Tax Filer?
FBR has recently made the announcement for an extension in the date of finding the income tax returns for the year 2022 from September 30th to the October 31st via the issued circular No.16. According to the circular, a one-month extension has been issued, which primarily is a response to the request of extension submitted… Continue reading FBR Has Extended the Deadline for Tax Filing In 2022
According to a letter of concern from the Pakistan Business Council (PBC) to the Finance Minister, the government is considering charging manufacturing companies a minimum annual revenue of Rs 50 million and an additional 5 percent income tax. Sources claimed that the government was considering slapping 1% to 5% special income tax on manufacturers with… Continue reading Additionally, a 5% Income Tax is to be imposed on manufacturing
ISLAMABAD: The Federal Board of Revenue (FBR) made several amendments to the Sales Tax Act to include small retailers under the tax umbrella. According to the amendment, small retailers (except those defined as Tier – 1) will pay fixed taxes based on monthly commercial electricity billings. This method of the tax regime is… Continue reading FBR simplifies tax payments for retailers through electricity bills.