Launching the Single Sales Tax Return for E&P (Oil & Gas) Companies and Microfinance Banks Tax compliance has just become easy to fulfil! Expanding its earlier initiative, the FBR, in coordination with all the Provincial Revenue Authorities, is gradually enhancing the Single Sales Tax Return SSTR, a step further in…
FBR Decides on Complete Ban on Bringing Commercial Quantities of Goods from Abroad According to the press release, FBR has issued a notification amending the baggage scheme. Lifting import exemption restrictions of the imported duty-free goods. In the new regulations, people will be allowed to import one mobile phone for…
Simplify Your Sales Tax Withheld Payments with FBR’s New IRIS System Among changes in the Pakistani taxation regime that has recently gone into effect, the FBR has introduced a solution known as IRIS e-Payment System. The following terms are to be met in conjunctions to include the Sales Tax Withheld…
FBR Introduces SOPs for Withholding Tax Challan Creation under Sections 236C & 236K for Holders of POC or NICOP The FBR has now provided Standard operating procedures (SOPs) relating to the preparation of the withholding tax challans under section 236C and section 236K of the IT Ordinance 2001 for the…
A Guide to Salary Taxation Under Section 149 of the Income Ordinance The most sensitive aspect of income tax compliance is salary taxation. Looking at the laws specifically section 149 of The Income Ordinance there is a lot of detail on the manner in which taxes are supposed to be withheld…
