Federal Government has introduced certain changes with regard to concessionary rate of duty on import of kits by motorcycle manufacturers. For this purpose, the following two notifications have been issued:- 1) SRO 939(I)/2013 dated 21.10.2013 Through this SRO, amendments have been made in SRO 693(I)/2006 dated 01.07.2006. After this amendment, additional customs duty leviable under…
Following Amendments have been made in the Second Schedule of the Income Tax Ordinance, 2001 through SRO (I)/ 2013 dated October 2013: 1) A new clause (14A) has been inserted in Part II of the Second Schedule to the Income Tax Ordinance, 2001. As per new clause, rate of collection of tax in the case…
Sindh High Court has stayed the payment of Income Support Levy for the taxpayers who filed writ against the levy. Writs have also been filed in the Lahore High Court where the matter is at present pending, including the requests for grant of stay. It is suggested that all clients who want to challenge the…
Federal Government vide SRO 742(I)/2013 dated 28.08.2013 has imposed regulatory duty on sports utility vehicles @ 50% ad valorem. Similarly, all terrain vehicles (CBU) above 2000cc i.e jeeps etc (except electric hybrids) have also been subjected to 50% regulatory duty.
The Government of Pakistan has signed a Preferential Trade Agreement with Indonesia. As a result of this agreement, around 313 items have been subjected to concessionary rate of duty. For this purpose, notification No.SRO 741(I)/2013 dated 28.08.2013 has been issued which is available on FBR website. For individual items the notification may be perused.
BR has selected Income Tax, Sales Tax and Federal Excise cases for audit through Balloting held on 13.09.2013 by Member (Audit) and CEO (PRAL). Number of cases are as under: FED-Corporate 11 FED-Non-Corporate 7 Sales Tax Corporate 570 Sales Tax Non-Corporate 4,381 Income Tax-Corporate 1,163 Income Tax-Non-Corporate 35,595 The list of NTNs selected for audit…
Federal Government vide Finance Act, 2013 included all persons registered under the Sales Tax Act, 1990 in the list of ‘Prescribed person’ for the purposes of section 153 of the Income Tax Ordinance, 2001. Due to this amendment all sales tax registered persons are required to deduct Income tax at the prescribed rates w.e.f 01.07.2013….
Federal Board of Revenue vide its letter C. No. 2(21)/Tax Base/2011 dated 17.09.2013 has extended date of filing of Income Tax Return for the tax year 2013 up to 31.10.2013.
GOVERNMENT OF PAKISTAN (REVENUE DIVISION) FEDERAL BOARD OF REVENUE ***** Islamabad, the 20th September, 2013. NOTIFICATION (CUSTOMS) S.R.O. 811(I)/2013–. In exercise of the powers conferred by sections 3DDD and 4 of the Customs Act, 1969 (IV of 1969), and in supersession of its…
Federal Government has extended date of payment of sales tax and federal excise duty and filing of sales tax and FE return for the Tax Period up to 20.08.2013
