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Mounting Concerns as Electricity Bills Reveal a Myriad of Taxes and Duties

Mounting Concerns as Electricity Bills Reveal a Myriad of Taxes and Duties

Karachi, September 12, 2023 – The rising concern over inflated electricity prices has brought to light a myriad of duty and taxes, in addition to government charges, that are embedded within electricity bills, impacting the daily lives of consumers. iCouncil, an advisory company specializing in financial analysis and advisory services, has compiled a comprehensive list […]

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Pakistan Implements Penalty for Cash Payments in Property Purchases

Pakistan Implements Penalty for Cash Payments in Property Purchases

Karachi, September 14, 2023 – Pakistan has taken a significant step towards curbing cash-based transactions in the real estate sector by introducing penalties for cash payments made during property purchases. This new regulation aims to enhance transparency and combat tax evasion in property transactions. Under this development, sources within the Federal Board of Revenue (FBR) […]

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FBR issues updated withholding tax card for Tax Year 2019

FBR issues updated withholding tax card for Tax Year 2019

ISLAMABAD: Federal Board of Revenue (FBR) has issued updated rate card of withholding tax for Tax Year 2019 incorporating amendments made through Finance Supplementary Act, 2018. Through Finance Supplementary Act, 2018 various provisions related to withholding tax have been amended to Income Tax Ordinance, 2001. The FBR issued guidelines for the taxpayers, tax collectors, withholding […]

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