Budgetrix

30/09/2021

Federal Minister for Finance & Revenue (FBR) Shaukat Tarin announced to extend the last date for filing income tax returns by 15 days till October 15, 2021.

18/09/2021

حکومت نے ٹیکس چوروں کو پکڑنے کے لیے آرڈیننس جاری کردیا

ٹیکس گوشوارے جمع نہ کرانے والوں کی سم بند ہو جائیں گی، آرڈیننس

اگر 25 ہزار کا بجلی یا گیس کا بل یا ڈاک ہوئی تو گوشوارہ جمع کرانا ہوگا، آرڈیننس
صدر مملکت نے ٹیکس قوانین تیسرے ترمیمی آرڈیننس 2021 پر دستخط کردیے

اسلام آباد۔آرڈیننس کے نفاذ سے نیب اور نادار کو ٹیکس دہندگان کی تفصیلات تک رسائی مل گئی۔آرڈیننس
اسلام آباد۔ آرڈیننس کے نفاذ سے پارلیمنٹرین اور سرکاری افسران کو ٹیکس کی تفصیلات ظاہر کرنے کا استثنی ختم ہو گیا ہے۔
اسلام آباد۔ٹیکس سے متعلق غلط معلومات فراہم کرنے پر کم از کم پانچ لاکھ روپے جرمانہ اور ایک سال سزا ہو سکے گی۔ آرڈیننس
اسلام آباد۔ایف بی آر نان فائیلر کے ٹیلی فون اور بجلی کے کنکشن منقطع کر سکے گا۔
اسلام آباد۔نان فائیلر بنکنگ کی سہولت سے بھی محروم ہو سکتے ہیں۔
اسلام آباد۔نیب کو بیس سال سے پرانے بند کئے گئے مقدمات دوبارہ کھولنے کا اختیار بھی مل گیا۔
اسلام آباد۔نیب کو او ای سی ڈی کے تحت ملنے والے آف شور ٹیکس ڈیٹا تک رسائی کا حق حاصل ہو گیا ہے۔
اسلام آباد۔نان فائیلر پرفیشنلز کے لئے بجلی کے بل کی مختلف سلیب ہر پنتیس فی صد تک ٹیکس عاید کر دیا گیا۔
اسلام آباد۔پروفیشنلز میں وکلاء، ڈاکٹرز، اکاوٹنٹ، انجنیئر، آئی ٹی ماہرین اور دوسری سروسز فراہم کرنے والے افراد شامل ہیں۔

اسلام آباد۔کمپنیاں اور کارپوریٹ سیکٹر پچیس ہزار روپے تک ڈیجٹیل ترسیلات کر سکتی ہیں۔

13/09/2021

FBR has advised all taxpayers required to file tax return by 30th September, 2021 to fulfill their legal obligation without waiting for the last date to avoid system delays which occur when a large number of taxpayers log-in for submission of returns near deadline. FBR has reiterated that there will be no extension in due date for filing of Income tax return.

Source:

FBR -Federal Board of Revenue is the Revenue Division of Government of Pakistan tasked with collecting taxes & duties and administrating relevant legislation.

03/08/2021

FBR has started registration of brand names, which is mandatory for manufacturers to sell their products.

The FBR issued Sales Tax General Order (STGO) No. 07 of 2021 for licensing of brand name under Section 40E of Sales Tax Act, 1990 for specified sectors.

According to the STGO FBR issued procedure for licensing of brand name for specified sectors including to***co products, beverages, sugar, fertilizer, cement and petroleum products.

The revenue body said that all existing and new manufacturers of specified sectors are required to register their brand of each product with the FBR before selling the same in the market.

Every manufacturer will have to submit an application to the Project Director (Track & Trace System), FBR, along with the supportive documents. The application shall include all the details and operations regarding their business /activity.

The FBR said that each application for brand registration shall contain all the requisite information about the applicant. The information should contain manufacturer’s full name, trade name, STRN, NTN, date and place of incorporation, name of its lead directors and any other information to allow identification to take place.

05/07/2021

*Filer Non Filer Tax Rates

On Winning a Prize Bond, Quiz Bond or Crossword Puzzle: Filer – 15%, Non-filer – 30%

Transfer of property:
Filer – 1%; Non-filer – 2%

Advance Tax on *Purchase of Property* :
Immoveable property worth over Rs. 4 million Filer – 2%; Non-filer 4%

Tax on General Insurance Premium and Life Insurance Premium:
General Insurance Premium: Non-filers – 4%

Life Insurance Premium (Over 0.2 million annual): Non-filers 1%

Banking Transactions
Every bank transaction you perform is also taxed based on the amount you send or cash out. The tax amounts are listed below:

*On Cash Withdrawal* (Over Rs. 50,000): Filer – 0%, Non-filer – 0.6%
On Demand Draft, Payment Order, CDR, STDR, RTC or similar instrument (Over 25,000): Filer – 0%, Non-filer – 0.6%

*On Online Money Transfer or other Electronic Mail* (Over 25,000): Filer – 0%, Non-filer – 0.6%
Advance tax on sale of demand draft, pay order etc.: Filer – 0%; Non-filer 0.6%

*All Bank Transactions* : Filer – 0%; Non-filer 0.6%
Motor Vehicles
Most activities related to motor vehicles also include withholding tax (WHT) based on a person’s status as a filer or non-filer, where the latter are taxed higher:

Registration of a vehicle:
Upto 850cc: Filer – Rs. 10,000; Non-Filer – Rs. 10,000
851cc to 1000cc: Filer – Rs. 20,000; Non-Filer – Rs. 25,000
1001cc to 1300cc: Filer – Rs. 30,000; Non-Filer – Rs. 40,000
1301cc to 1600cc: Filer – Rs. 50,000; Non-Filer – Rs. 100,000
1601cc to 1800cc: Filer – Rs. 75,000; Non-Filer – Rs. 150,000
1801cc to 2000cc: Filer – Rs. 100,000; Non-Filer – Rs. 200,000
2001cc to 2500cc: Filer – Rs. 150,000; Non-Filer – Rs. 300,000
2501cc to 3000cc: Filer – Rs. 200,000; Non-Filer – Rs. 400,000
Above 3000cc: Filer – Rs. 250,000; Non-Filer – Rs. 450,000

Transfer of registration or ownership of a vehicle:
Upto 850cc: Filer – Rs. 0; Non-Filer – Rs. 5,000
851cc to 1000cc: Filer – Rs. 5,000; Non-Filer – Rs. 15,000
1001cc to 1300cc: Filer – Rs. 7,500; Non-Filer – Rs. 25,000
1301cc to 1600cc: Filer – Rs. 12,500; Non-Filer – Rs. 65,000
1601cc to 1800cc: Filer – Rs. 18,750; Non-Filer – Rs. 100,000
1801cc to 2000cc: Filer – Rs. 25,000; Non-Filer – Rs. 135,000
2001cc to 2500cc: Filer – Rs. 37,500; Non-Filer – Rs. 200,000
2501cc to 3000cc: Filer – Rs. 50,000; Non-Filer – Rs. 270,000
Above 3000cc: Filer – Rs. 62,500; Non-Filer – Rs. 300,000

At the time of sale of new vehicle (from manufacturer):

Upto 850cc: Filer – Rs. 10,000; Non-Filer – Rs. 10,000
851cc to 1000cc: Filer – Rs. 20,000; Non-Filer – Rs. 25,000
1001cc to 1300cc: Filer – Rs. 30,000; Non-Filer – Rs. 40,000
1301cc to 1600cc: Filer – Rs. 50,000; Non-Filer – Rs. 100,000
1601cc to 1800cc: Filer – Rs. 75,000; Non-Filer – Rs. 150,000
1801cc to 2000cc: Filer – Rs. 100,000; Non-Filer – Rs. 200,000
2001cc to 2500cc: Filer – Rs. 150,000; Non-Filer – Rs. 300,000
2501cc to 3000cc: Filer – Rs. 200,000; Non-Filer – Rs. 400,000
Above 3000cc: Filer – Rs. 250,000; Non-Filer – Rs. 450,000

Private motor vehicle tax:

Upto 1000cc: Filer – Rs. 800; Non-Filer – Rs. 1,200

1001cc to 1199cc: Filer – Rs. 1,500; Non-Filer – Rs. 4,000

1200cc to 1299cc: Filer – Rs. 1,750; Non-Filer – Rs. 5,000

1300cc to 1499cc: Filer – Rs. 2,500; Non-Filer – Rs. 7,500

1500cc to 1599cc: Filer – Rs. 3,750; Non-Filer – Rs. 12,000

1600cc to 1999cc: Filer – Rs. 4,500; Non-Filer – Rs. 15,000

2000cc & above: Filer – Rs. 10,000; Non-Filer – Rs. 30,000

Income on dividend/payment of dividend: Filer – 12.5%, Non-filer – 20%

Income on Sukuk: Filer – 10% to 15%, Non-filer – 17.5%

Profit on National Savings Scheme or Post Office Savings: Filer – 10%, Non-filer – 17.5% (Over Rs. 5 lacs)
Profit on debt paid by banking company: Filer – 10%, Non-filer – 17.5% (Over Rs. 5 lacs)
Profit on bonds , certificates, debentures, securities: Filer – 10%, Non-filer – 17.5% (Over Rs. 5 lacs)
On extraction of minerals from mines: Filer – 0%; Non-filer – 5%
On brokerage or commission:
Advertising agents: Filer – 10%, Non-filer 15%
Life Insurance Agents (Commission under Rs. 5 lacs): Filer – 8%, Non-filer
On construction related contracts: Filer – 7%, Non-filer – 12%
On other services and TV advertisements: : Filer – 7%, Non-filer – 12%
Sale of goods (Company): : Filer – 4%, Non-filer – 6%

27/05/2021

Last Date for Encashment of Prize Bonds
Rs.40,000/- till 31-05-2021
Rs.25,000/- till 31-05-2021
Rs. 15,000/- till 30-06-2021
Rs. 7500/- till 31-12-2021