FBR sends notices to parents paying Rs 2 lakh per year

LAHORE: The Federal Board of Revenue (FBR) is desperately looking for potential taxpayers these days and is aggressively digging the record of Pakistani citizens who, at some stage, have come under prominent sections of the Income Tax Ordinance. According to media, recently, the tax collecting agency has dispatched letters to parents, who are paying an annual fee of Rs200,000 to the educational institutes where their children are studying, asking them to declare their hidden assets and become a tax return filer. “Data available with the FBR reveals that advance tax…

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Tax rate for token payment & registration of cars not changed

KARACHI: Federal Board of Revenue (FBR) has strongly rebutted the perception that rate of tax has been changed in the Financial Budget-2019 for the token payment and registration of cars. After verification it was noticed that this misperception was due to a typographical mistake which was rectified in the Finance Act-2019. The rate of tax for the token payment and registration of cars is the same that was charged in the previous year. There is no enhancement or reduction in the tax rate. FBR further added that no tax has…

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