Vide SRO 569(I)2014 dated 26.06.2014, Federal Excise Duty and Sales Tax on Production Capacity (Aerated Waters) Rules, 2013 have been withdrawn with effect from 1st July, 2014. The aerated waters industry will therefore, be liable to sales tax and federal excise duty under the normal tax regime w.e.f 1st July, 2014.
PROPOSED AMENDMENTS IN INCOME TAX ORDINANCE, 2001 HIGHLIGHTS Income Tax Separate withholding tax rates introduced for filers and non-filers, a filer being a person whose name appears on the active taxpayers’ list of FBR or who holds a taxpayer’s card. Bonus shares received by a shareholder to be treated as income subject to deduction of…
Federal Board of Revenue has issued SRO 422(I)/2004 to give immediate effect to the proposed enhancement of Federal Excise duty on Cigarettes vide Finance Bill, 2015. These rates have been made effective from 04.06.2014. The new rates of federal excise duty on cigarettes are as under:- TABLE S. No. Description PCT heading Rate of Duty…
