Tax News & Updates

FBR for 3-5pc tax to bring offshore assets to Pakistan

January 19, 2018

ISLAMABAD: The Federal Board of Revenue (FBR) has prepared a draft of amnesty scheme titled the 'Foreign Assets Declaration Scheme' (FADS) and handed over to Prime Minister Shahid Khaqan Abbasi, pro...

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Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations, 2017 notified

August 08, 2017

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) after due process of law including comprehensive consultation with the stakeholders and taking into consideration the objections an...

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SECP allows one-time relaxation to listed companies from paying dividend directly to shareholder's bank accounts

August 01, 2017

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has allowed one time relaxation to listed companies from paying dividend directly to shareholders bank accounts. In a circular issued ...

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FBR allows de-registration of 42 customs agents

July 30, 2017

KARACHI: Federal Board of Revenue (FBR) has allowed sales tax de-registration of 42 customs clearing agents from the date of implementation of Sindh Sales Tax Act, 2011. In a notification the FBR exe...

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17.5pc withholding tax to be collected from non-filers on profit from Islamic bond

July 28, 2017

KARACHI: Federal Board of Revenue (FBR) has said that a non-filer of income tax return is required to pay 17.5 percent on return received on investment made in Islamic bond i.e. Sukuk. The FBR in its...

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Dividend payers require to collect 20pc withholding tax from non-filers

July 28, 2017

KARACHI: Federal Board of Revenue (FBR) has said that a person paying dividend is required to collect 20 percent withholding tax from non-filers of income tax returns on the gross amount of dividend p...

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SECP allows companies to prepare financial statements as per repealed law

July 21, 2017

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has allowed companies to prepare financial statements for the period ending June 30, 2017 as per repealed law. In a statement issued o...

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SBP to announce first monetary policy decision on July 22

July 21, 2017

KARACHI: Tariq Bajwa, the newly appointed governor of State Bank of Pakistan (SBP) will unveil first monetary policy for fiscal year 2017/2018 on Saturday, July 22, 2017. The SBP in a statement said ...

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FBR's role should be restricted to revenue collection: Ombudsman

July 20, 2017

ISLAMABAD: Federal Tax Ombudsman (FTO) has recommended that the role of Federal Board of Revenue (FBR) should be restricted to revenue collection. In its annual report for year 2016, the FTO said tha...

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FBR directs all customs, IR officers to submit personal, family asset declarations

July 19, 2017

KARACHI: Federal Board of Revenue (FBR) has directed all the officers of Inland Revenue Service (IRS) and Pakistan Customs Service (PCS) to submit asset declaration of personal and family members as c...

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