Increase in IT slabs for individuals proposed Senate Standing Committee on Finance has proposed an increase in income tax slabs for individuals in its recommendations to the government for implementation from the next fiscal year. A day after, the meeting requested the Federal Board of Revenue (FBR) to revise the income tax slabs for [...]
The proposed changes can be accessed here: http://akhtarali.com/wp-content/uploads/2016/06/Changes-in-the-ICT-Tax-on-Services-Ordinance-2001.docx
The proposed changes can be accessed here: http://akhtarali.com/wp-content/uploads/2016/06/Changes-in-the-ICT-Tax-on-Services-Ordinance-2001.docx
Vide SRO 495(I)/2016 dated 04.07.2016, the Federal Government directed that the following services shall be chargeable to reduced rate of 5%, subject to the condition that no input tax adjustment will be available against such services: (i) Construction services; (ii) Services provided by beauty parlours, clinics, sliming clinics, body massage centres, pedicure centres including [...]
Vide SRO 495(I)/2016 dated 04.07.2016, the Federal Government directed that the following services shall be chargeable to reduced rate of 5%, subject to the condition that no input tax adjustment will be available against such services: (i) Construction services; (ii) Services provided by beauty parlours, clinics, sliming clinics, body massage centres, pedicure centres including [...]
Schedule of taxable services has been revised to make the same at par with the sales tax levied on such services under the respective sales tax on services regimes. The new Schedule is as under: S. No. Description PCT Heading, if applicable Rate of Tax (1) (2) (3) (4) 1 Services provided or [...]
Schedule of taxable services has been revised to make the same at par with the sales tax levied on such services under the respective sales tax on services regimes. The new Schedule is as under: S. No. Description PCT Heading, if applicable Rate of Tax (1) (2) (3) (4) 1 Services provided or [...]
The proposed changes can be accessed here: https://drive.google.com/open?id=0BwUI-PxfjgugWW9xZjRJMC1DN2tOSTZhdWZoQkE2OGVnUEhv
The proposed changes can be accessed here: https://drive.google.com/open?id=0BwUI-PxfjgugWW9xZjRJMC1DN2tOSTZhdWZoQkE2OGVnUEhv
Dear Clients, It is informed that an agreement has been singed today between the Federal Government and SRB for allowing input tax adjustment of sales tax paid on services. Similar agreement is expected today with PRA as well. Ordinance and requisite notification are likely to be issued by 1st September, 2016.