201506.09
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Budgetary Changes in the Income Tax Ordinance, 2001

by in Income Tax

The Changes proposed through Finance Bill, 2015 are as under: PROPOSED CHANGES IN INCOME TAX ORDINANCE 2001   THROUGH FINANCE BILL 2015   Definition      Section 2   The following new clauses have been proposed to be inserted in section 2:- Clause (13AA)   “Consumer goods” have been defined as goods that are consumed by end…

201506.08
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Increase of Excise duty on cigarettes

by in Federal Excise

Federal Board of Revenue has issued SRO 481(I)/2015 dated 05.06.2015 wherein excise duty on locally manufactured cigarettes has been increased as under: Sr. No. Description of goods New rate of duty  1 Locally produced cigarettes if their on-pack printed retail price exceeds rupees three thousand three hundred and fifty per thousand cigarettes. Rs.3,030/- per thousand cigarettes…