INTRODUCTION Federal Board of Revenue (FBR), Revenue Division, issued rules for tax treatment of goods supplied from tax exempt areas into taxable areas. In this regard the FBR issued SRO 96(I)/2021dated 26 January, 2021 to make amendment in Sale Tax Rules, 2006, through an addition of a new chapter “Chapter X-A: SUPPLY FROM TAX EXEMPT [...]
Federal Board of Revenue has issued letter to all Commissioners Inland Revenue (Appeals) to process all Income Tax Appeals pertaining to the tax years prior to 2014 manually. Please click below to read the original letter. FBR Instruction
Dear Valued Client, Introduction Ministry of Finance, Economic Affairs, Statistics & Revenue (Revenue Division) had issued Sales Tax Notification (S.R.O. 77 (I) /2021) dated January 21, 2021, whereby further amendments have been made in its Notification No. S.R.O. 495 (I)/2016 dated July 04, 2016 to include an explanation of the terms “IT Services” and [...]
Introduction The President of Islamic Republic of Pakistan has promulgated ‘The Income Tax (Amendment) Ordinance, 2021’, which shall come into force on and from first day of January 2021. PLEASE CLICK ON THE LINK BELOW TO READ THE COMPLETE COMMENTARY Tax Laws (Amendment) Ordinance, 2021 PLEASE CLICK ON THE LINK BELOW TO READ THE ORDINANCE. [...]
Ordinance Link 6460(20)Ex Gaz-I Commentary Link Ordinance Briefing (Jan 2021)
In continuation of our regular practice, we are pleased to present and publish our (Bi-Month) Newsletter for the months of NOVEMBER & DECEMBER 2020. Please click on link mentioned below to access and study the Khilji & Co, Chartered Accountants Newsletter (November & December 2020) KCO Newsletter Nov and Dec 2020 This Newsletter envisages following aspects: [...]
Sindh Revenue Board issued notification SRB-3-4/36/2020 dates December 30, 2020 to extend the period of exemption earlier granted vide notification SRB-3-4/3/2016 of Feb 26, 2016. Through notification SRB-3-4/3/2016 of Feb 26, 2016, SRB exempted the whole of the tax leviable on the services, listed below, as are provided or rendered by registered persons (duly registered [...]
Extension in Date of Furnishing of Taxpayer's Profile under section 114A of the Income Tax Ordinance, 2001 Federal Board of Revenue issued Circular 8 of 2020 on December 30, 2020 (ref: C.No, 3(22)S(IR-Operations)/2020/Pt243647 R. Vide this Circular, Federal Board of Revenue extended the last date of furnishing of, Taxpayer's Profile required to be submitted under [...]
Securities and Exchange Commission of Pakistan issued S.R.0.1356 (1)/2020 on December 16, 2020, has notified the powers and functions of the Commission under the Companies Act 2017, the Limited Liability Partnership Act, 2017 (XV of 2017) and the rules and regulations framed thereunder to the Head of Department, Adjudication Department-11, Adjudication Division in relation to companies other [...]
S.R.O. 1337(I)/2020 DATE OF ISSUANCE: 16th December, 2020 EFFECTIVE FROM: 01 July 2020 AMENDMENTS MADE IN: Sales Tax Act, 1990 INTRODUCTION: Amendment has been made in sub-section (4) of section 73 of the Sales Tax act, 1990 whereby registered persons engaged in manufacturing and supply of fertilizer have been excluded form purview of [...]
