Subscribing Pakistan Single Window
Federal Board of Revenue (FBR) on Thursday notified rules for subscribing Pakistan Single Window (PSW) system for conducting cross-border trade. In this regard the FBR issued SRO 2296(I)/2022 dated December [...]
SBP Withdraws Curbs On Import Permission
The State Bank of Pakistan (SBP) Tuesday announced withdrawal of restrictions on prior permission before initiating any import transaction pertaining to HS Code Chapters 84, 85 and certain [...]
FBR adopts HS Code 2022
Federal Board of Revenue (FBR) has adopted harmonized system (HS) – 2022 on the recommendations of the World Customs Organization (WCO). The FBR on Wednesday issued Customs General Order [...]
Pakistan Customs To Link International
Pakistan Customs is set to launch a module which will link with the international markets to reflect updated prices for making accurate customs valuations. This was disclosed by [...]
Super Tax To Be Applicable
The Sindh High Court (SHC) has held that super tax on high-earning persons will not be applicable for the Tax Year 2022, but for Tax Year 2023 and [...]
FBR Setting Sugar’s Minimum Value
The Lahore High Court (LHC) has restrained the Federal Board of Revenue (FBR) from the fixation of the minimum value on supply of sugar. It is reliably learnt [...]
Section 7E Of IT Ord
Balochistan High Court (BHC), Tuesday, issued notices to the Federal Board of Revenue (FBR) regarding the constitutionality of Section 7E (tax on deemed income) of the Income Tax [...]
Failure To Deposit CVT
The taxpayers/resident individuals who failed to deposit Capital Value Tax (CVT) on their foreign assets by December 15, 2022 would be liable to pay the default surcharge at [...]
Dental Tax Registration Deadline
Sindh Revenue Board (SRB) has given a deadline of December 31, 2022 to dental practitioners to get registered for sales tax on services, according to a notification issued [...]
Non-Filers to get disconnected
Federal Board of Revenue (FBR) is identifying persons, who are liable to file annual income tax returns but failed to discharge liability, for disabling their mobile phones and [...]
SECP Company Registration Tops 182,598
The total number of registered companies with Securities and Exchange Commission of Pakistan (SECP) increased to 182,598 by end of November 2022, a statement said on Monday. The [...]
cash carrying limit for foreign travel
Federal Board of Revenue (FBR) on Tuesday imposed cash carrying limit of $5,000 for travelling abroad. The FBR issued SRO 2201(I)/ 2022 dated December 12, 2022 to make part of [...]
Last Date For Filing Income Tax Return
Last date for filing annual income tax returns for corporate entities is December 30, 2022. By this deadline the companies have financial year ending June 30 are required [...]
FBR Exempts CVT of Reko Diq
Federal Board of Revenue (FBR) on Monday exempted capital value tax (CVT) on all assets of Reko Diq Mining Company. The FBR issued SRO 2200(I)/2022 to announce that [...]
Further Tax On Pharmaceutical Unlawful
Karachi Tax Bar Association (KTBA) on Thursday termed the collection of further tax on sales of pharmaceutical products to unregistered persons as unlawful. In a letter sent to [...]
