How to Verify and Report Fake Invoices to KPRA?
Here’s how you can verify a sales tax invoice on the KPRA website: 1. Go to the KPRA Invoice Verification Portal: Open your web browser and go to the KPRA […]
FBR’s Aggressive Audit Plan for Non-Filers
The Federal Board of Revenue (FBR) has recently unveiled an ambitious plan to significantly ramp up its audit activities, particularly targeting non-filers. This initiative is designed to broaden the tax […]
Avoid Disruptions: File Your Income Tax Return Today
The Income Tax Ordinance 2001 empowers the Federal Board of Revenue (FBR) to enforce the filing of income tax returns. This authority is particularly relevant to individuals who are not […]
How & Why to File Nil Withholding Tax Statement?
Withholding tax statements must be filed even if no tax was withheld during the period. This requirement ensures accurate reporting and helps the Federal Board of Revenue (FBR) maintain a […]
How much Information Banks are Sharing with FBR?
Section 165A of the Income Tax Ordinance, 2001, imposes a duty upon banking companies in Pakistan to provide certain information to the Federal Board of Revenue (FBR). This section is […]
Gold and Taxes: A Guide to Capital Gains Tax on Gold in Pakistan
Gold has long been a popular investment choice, offering a hedge against inflation and economic uncertainty. However, the sale of gold can lead to capital gains tax, a significant financial implication for many.
New Penalties for Incomplete Income Tax Returns
The Income Tax Ordinance (ITO) in Pakistan has been strengthened with the enforcement of the Finance Act 2024. This update introduces stricter regulations and harsher penalties for companies and associations […]
New Fines Imposed for Non-Compliance u/s 182 for Tax Year 2025
The Finance Act 2024 introduces various penalties for individuals and businesses who fail to comply with tax regulations. This article dives into some key areas where non-compliance can lead to […]
Understanding Tax Liability After Company Closure in PRA
Don’t Leave Debts Behind Closing a private company or business enterprise in Punjab comes with legal and financial responsibilities. One crucial aspect is ensuring all outstanding taxes are settled before […]
FBR Tax Notices – How to Stay Informed and Respond Timely
The Federal Board of Revenue (FBR) has adopted a more proactive approach to tax collection. This includes sending notices to taxpayers to ensure compliance. Here’s a guide to help you […]