Tag: Advance tax
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FBR asks traders to pay advance tax of up to Rs60,000 by the 15th of every month
The Federal Board of Revenue (FBR) has issued a notice to traders in Karachi, instructing them to pay an advance tax of up to Rs 60,000 per month under the Tajir Dost Scheme.
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Proposed increase in advance tax on vehicle registration to impact expensive car buyers
With the upcoming budget just days away, the Federal Board of Revenue (FBR) is deliberating on measures to increase the advance tax on motor vehicle registration, particularly targeting non-filers. The proposed plan suggests raising the tax rate by 10 to 35 per cent based on the value of vehicles.
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FBR surpasses revenue collection target by Rs15 billion for July
The Federal Board of Revenue (FBR) revealed the provisional revenue collection data for July 2022, which came to Rs458 billion. The FBR generated net revenues of Rs458 billion in July, which was Rs15 billion more than its goal of Rs443 billion. These collections—which represent an increase of roughly 10 per cent over the Rs417 billion…