Tag: #incometax
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FBR served notice to famous singer for non-payment of Rs 85 million tax
The Federal Board of Revenue (FBR) has served a notice on famous singer Aima Baig for non-payment of Rs 85 million tax. According to the FBR, Aima Baig has not paid income tax for 2018, 2019, and 2020. In case of non-payment of income tax, the vehicle she has shown in her tax returns will…
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Imported luxury items will become more expensive, Mini budget purposed
A draft for the mini-budget has been prepared and forwarded to the Ministry of Law and Justice. According to a national media outlet, ‘luxury items will be made more expensive in the mini-budget and it has been proposed to hike sales tax on non-essential items and imported vehicles. Politically, ‘On the other hand, Opposition Leader…
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Pakistan’s Taxation System & the way forward
Taxes that are levied on citizens are a major source of funds used by the government to function. These funds are accumulated in a variety of ways, such as income tax. This is a regular source of income for the government and is generally utilized for the provision of services including health, education subsidies, infrastructure,…
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A country-wide strike may lead to a petroleum crisis
A country-wide strike is underway against the rejection of demands of the Oil Tankers Association. In lieu of this, the supply of petroleum products has been suspended across the country. There is a fear of petroleum shortage across the country. According to reports, the government and the association will reportedly hold talks today to discuss…
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FBR to crack down on freelancers and online traders
Lahore, 10th March: The Federal Board of Revenue (FBR), an income tax investigation agency, has decided to crack down on freelancers and online product sellers. Baaghi TV: According to media reports, the FBR Commissioner of Offshore Tax and the Director-General of International Tax have jointly launched an investigation in this regard. FBR officials have revealed…
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Govt decides to issue long pending income tax refunds: FBR
Islamabad August 22 (Online Int’l): The government has decided to issue long-pending income tax refunds to facilitate the business community. The decision has been taken in the context of worsened economic situation after the outbreak of Corona virus pandemic. To fulfill all legal requirements for the issuance of refunds, FBR has informed all the taxpayers to…
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FBR directed to pay all Income Tax refunds amounting up to Rs 50 million
ISLAMABAD, Jul 16 (APP):Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh on Thursday directed the Federal Board of Revenue (FBR) to make payment of all Income Tax refunds of up to Rs 50 million in the next couple of weeks. He also directed the board to adopt clear roadmap and…
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Excise fails to relieve citizen, left people at tout’s mercy
ISLAMABAD, Sep 15 (APP):The Excise and Taxation (E&T) department, Islamabad, that is supposed to facilitate the taxpayers by all means has left people at the mercy of touts to get token for registration of their vehicles. By now, the department has not installed any digital system to save them from a daylong inconvenience faced before…