Withholding Tax on Vehicle Registration and Transfer

withholding tax on vehicle registration

Federal  Board of Revenue (FBR) has recently updated the Withholding tax rates on any vehicle registration and for transfer of vehicles for the year 2020-21 from 30th of june, 2020. Withholding tax under Section 231B: The withholding tax rate under  section 231B for private vehicles is that withholding tax shall be collected by vehicle registration […]

Income Tax Rates in Pakistan 2020-21

Income Tax Rates pakistan

Here are the income tax rates in Pakistan for year 2022-21 Also Read: What is withholding tax Important Note: Please note as for these income tax rates in Pakistan where a persons is not appearing in the active taxpayers’ list, the rate of tax required to be deducted or collected, as the case may be, […]

Tax Appeals in Pakistan

tax appeals in pakistan

What is Tax Appeal: Most of the tax appeals in Pakistan arise between taxpayers and tax collectors (Inland Revenue Department) over the verification of the amount of taxable income and the imposition of default surcharges and penalties on it. Right of Appeal: To resolve such disputes, the law provides the procedure, which gives taxpayers the […]

Property tax in Pakistan 2019-20

Property tax in Pakistan

Property tax in Pakistan is a tax that is owned by an individual or another legal entity, such as a corporation. Property taxes are paid by the property owner calculated by the government on property value and location basis. Before going into the changes in property tax for the year 2019-20, the government has done, […]

Pakistan Budget 2020-21 Highlights

Budget 2020-21

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 […]

Documenting economy: FBR urged to use data of bourse, the property market

Pakistan Business Council (PBC) has asked the Federal Board of Revenue (FBR) to use stock market/property data and the National Database and Registration Authority (Nadra) information for documenting the economy and providing a level-playing field to the domestic manufacturing from the next fiscal year. According to the budget proposals of the PBC for 2020-21, the […]

What are the consequences of missing tax deadline?

What are the consequences of missing tax deadline

It is the duty of every filer to tax their files before the deadline in order to protect him from the consequences of missing the tax deadline. However, If any person failed to tax his filer before the deadline, he should file his tax as soon as possible. In case of failure of pay tax, […]

How to pay Income tax in Pakistan?

how to pay income tax

If you are a filer or taxpayer and want to pay income tax, you can pay it either online or manually. Please see the payment methods: Factors of Income Tax Calculation: Calculating income tax depends on various factors that contain your status whether you are an individual, a company, a firm or a local authority, […]