income tax

Higher tax deductions have caused a net decrease in take-home pay, despite nominal pay raises

Bank officers to be penalised for failing to provide taxpayer information

Promises Rs4.1tr revenue boost in 3 years by lowering tax rates, removing exemptions

It leads to evasion of income tax, sales tax and federal excise duty

If the proposal is implemented it is estimated that an additional revenue of Rs4 trillion will be obtained

Interim govt misses crucial monthly target as FBR fails to expand tax base

Speakers at moot say distinction between filer and non-filer must be abolished

Rs300b to be collected through petroleum levy

Prime Minister Imran Khan paid Rs8.95 million in income tax

According to authorities, the actor is in possession of ‘unaccounted income’ totalling INR 20 crore

Had proposed amendment to treat gains from property as business income

Tax rate hike makes National Savings Scheme an unattractive investment

Tarin says trust was inserted through separate amendment, was okayed by house

Final decisions expected in crucial meeting with IMF next week

FBR could only collect Rs175 from upscale markets in Clifton Block 5

Federal Board of Revenue offers simple one-page income tax return form after failure of amnesty scheme

Tax details break myth that manufacturing sector contributes more than its size

On average, a salaried individual paid Rs114,000 while a businessman paid Rs131,000 in taxes in FY18

Income tax refunds of the business community had been pending with the FBR since 2014-15

Dispels misconception that in case of tax reference, a high court has just an advisory jurisdiction

Finance adviser asks for adopting clear strategy for release of remaining refunds

Tax exemptions made in favour of charitable organisations

FBR accepts demand of halving withholding tax rates; cuts minimum income tax rate for traders

Recommendations to be considered while preparing the next federal budget

Major business processes of PRA including registration, return filing and tax payments, all are fully automated

Move will encourage investment in long-term debt securities

IMF’s bailout programme, delayed licence fee payments by telecom operators among others provide relief

Deadline to file income tax returns for individuals and companies has been extended to December 31, 2019

Increase in income tax liabilities dampens raise of 5-10% in salaries

Increase in rates and new slabs means tough time ahead of middle class

Petitioner challenges notice issued to collect tax retrospectively

Proposes simplified tax regime to bring the sector under tax net

Minister of State for Revenue Hammad Azhar announced the decision of exempting salaried persons

Last date for filing income tax returns till November 30, 2018

It is difficult to find much by way of sympathy for the non-filers.

Recommends up to 100% increase in income tax rates offered earlier by the PM

Senate panel endorses govt’s view to let changes come into effect this month

What makes the government think that the private investment will pick up the slack?

FBR data shows Rs102 billion was transferred last tax year

If passed, measure will see 90% cut in tax burden on lowest income group; relief is worth Rs67b

Finance adviser insists no segment will receive preferential treatment

Actor alleged to have constructed farmhouse for personal use despite giving application for farming

Low number of return filers forces finance ministry’s hand to allow for more time

New taxes imposed in five years add up to Rs1.3 trillion

Dar critical of FBR’s proposals as he doesn’t want to increase taxes in election year

Additionally, FBR did not levy minimum income tax in hundreds of cases

Highly understaffed audit wing, challenges in courts among problems

Political uncertainty, difficult online system make it impossible to file returns

LHC judge calls for speedy disposal of pending cases

Income tax liability: US authorities query Facebook