Taxation

Sure, here is the SEO-friendly paraphrased text for "Advance Tax on Sale of Immovable Property" section 236C, Division X, Part – IV of First Schedule: Advance Tax on Sal

The Finance Act 2023 has amended section 147 of the Income Tax Ordinance 2001 to require builders and developers to pay advance tax on a project-by-project basis. The advance

The Federal Excise Duty (FED) Act, 2005 specifies various situations for the levy of FED in relation to specified goods and services. The Finance Bill, 2023 proposed to insert

The definition of IT Services and IT Enabled Services has been moved from Table-2 to Table-1 of the Islamabad Capital Territory (Tax on Services) Ordinance 2001. This is a pos

The Finance Bill 2023 proposed to exempt freelance exporters exclusively dealing in export of IT and IT enabled services from sales tax. However, this amendment was not made p

The government has clarified that input tax disallowance will be applicable to all persons in the supply chain of pharmaceutical goods, including manufacturers and importers,

The government has extended the sales tax exemption on wheat bran with retrospective effect from July 1, 2018. This means that taxpayers who incurred sales tax liability on wh

The Finance Act 2023 has increased the zero-rating limit on sales tax for preparations suitable for infants put up for retail sales from Rs. 500 to Rs. 600 per 200 grams. This

The legislature has made several amendments to the alternative dispute resolution (ADR) provisions in tax laws in recent years. In 2020, the legislature revamped the ADR prov

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has asked the Federal Board of Revenue (FBR) to withdraw the tax on immovable property under Section 7E of