Vide SRO 1180(I)/2015 dated 30.11.2015, Federal Government has amended. SRO 383(I)/2015 dated 30.04.2015 and rates of the petroleum products have been revised w.e.f. 01.12.2015. New rates are as under:– Sr. No. Description Old Rate of Sales Tax New Rate of Sales Tax 1 Motor Spirit excluding HOBC 22% 24% 2 HOBC 16.5% 16.5% 3…
Vide Circular 12 of 2015 dated 30.11.2015, FBR has extended date of filing of annual returns/ statements for the tax year 2015 up to 31.12.2015 which were due on 31.08.2015 and 30.09.2015. Date of filing has earlier been extended up to 31.10.2015 vide Circular No. 8 of 2015 dated 30.09.2015 and up to 30.11.2015 vide Circular 11…
Vide SRO 1181(I)/2015 dated 30.11.2015, FBR has imposed fixed duty on cigarettes at the rates specified in the below table. Sr. No. Existing description of goods New description of goods Existing rate of duty New rate of duty 1. Locally produced cigarettes if theiron-pack printedretail price exceedsrupees three thousand three hundred and fifty per thousandcigarettes….
As per provisions of section 153(1)(b) read with proviso in clause (b) in sub-section (3) of section 153, the tax deductible on payments for the rendering of services shall be the minimum tax on transactions irrespective of the status of recipient of money. Following amendment has been made through Income Tax (Second Amendment) Ordinance, 2015…
Federal Government has made certain amendments in SRO 568(I)/2014 dated 26.06.2014 through SRO 1055(I)/2015 dated 30.10.2015. Regulatory duty @ 10% has been imposed on “Cotton yarn and fabric” falling under the following chapters of the Pakistan Customs Tariff: (i) 52.05 (ii) 52.06 (iii) 52.07 (iv) 52.08 (v) 52.09 (vi) 52.10 (vii) 52.11 (viii) 52.12 This…
