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FBR advised to use withholding statements for identifying new taxpayers
KARACHI: Tax practitioners have advised the Federal Board of Revenue (FBR) to examine withholding statements and extract information of persons not paying taxes and not filing their annual returns. The members of Karachi Tax Bar Association (KTBA) in their pre-budget 2021/2022 seminar urged the FBR for mining of its database to identify new taxpayers &…
Turkey spared EU tax blacklist…
Turkey has survived being included in the EU’s terrorist tax list, the media said on Thursday, despite failing to fulfill its obligations, Brussels is under pressure to avoid tensions with Ankara. The EU’s 27 member states will add the Cayman Islands, sources said, which is the first British overseas site to join the black list…
Active Taxpayer List updated…
Check out the updated Active Taxpayer list
Date extended up to June 30 for updating tax profile
The Federal Board of Revenue (FBR) on Friday extended the deadline for updating taxpayer information until June 30, 2021. FBR issued Circular No. 14 of 2021 March 26, 2021, to extend the date of renewal of the taxpayer profile from March 31, 2021 to June 30, 2021. The date has been extended with a request…
Pakistan Budget 2020-21 Highlights
Here are budget 2020-21 highlights: 1- No new tax to give relief to people 2- Ahsas program to continue by increased budget 3- To improve tax collection 4- To decrease in govt. expenditure 5- To improve subsidy system 6- Poverty elevation program 7- Higher education budget increased 8- Measures taken to improve remittances 9- Kamyab…
Taxpayers Need to Update their profile to remain as Filer!
According to Profit.PkistanToday, taxpayers need to update their details by March 31, 2021, to avoid penalties and to be removed from the Active Taxpayers (ATL) list. The last day to renew the profile was December 31, 2020, extended by the Federal Board of Revenue (FBR) until March 31, 2021, in view of the problems faced…
