FBR to apply new tax rates from July 1st 2018

MG News | September 25, 2018 at 06:28 PM GMT+05:00

0:00

September 25, 2018 (MLN): Member FBR Dr. Muhammad Iqbal, on the amendments to the Income Tax Ordinance, announced that the new rates would be applicable from the first day of the current financial year, i.e. July 1^st 2018.

Adjustments for those who have been subjected to taxes for the three months of the current financial year would be subject to subsequent adjustments in their tax returns.

Member Senate Musadik Malik expressed his opposition to the announcement, warning the government that their entire policies with respect to the tax system could be subject to a stay order from the courts if application of the new rates commences from the beginning of the financial year, since three months have already passed.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	159,592.91 216.91M	0.31% 496.12
ALLSHR	97,116.33 768.06M	0.46% 445.03
KSE30	48,297.58 106.33M	0.31% 148.84
KMI30	228,607.02 68.07M	0.59% 1329.76
KMIALLSHR	63,247.23 258.39M	0.62% 387.33
BKTi	44,604.42 43.32M	0.63% 277.31
OGTi	30,819.67 8.30M	0.93% 283.08

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	104,160.00	104,220.00 99,425.00	2950.00 2.91%
BRENT CRUDE	63.70	64.39 63.23	0.32 0.50%
RICHARDS BAY COAL MONTHLY	87.25	0.00 0.00	0.10 0.11%
ROTTERDAM COAL MONTHLY	96.75	96.75 96.75	-0.20 -0.21%
USD RBD PALM OLEIN	1,082.50	1,082.50 1,082.50	0.00 0.00%
CRUDE OIL - WTI	59.84	60.46 59.32	0.41 0.69%
SUGAR #11 WORLD	14.13	14.37 14.07	-0.06 -0.42%