Tue, 21-Oct-2025

FBR collects Rs4,725 billion during outgoing financial year 2020-21

FBR

During the fiscal year 2020-21, which ended on June 30, 2021, the Federal Board of Revenue (FBR) exceeded its revised annual collection target of Rs4,691 billion, netting Rs4,725 billion in net provisional collections. On the other hand, the FBR was unable to meet its initial tax collection target of Rs4,963 billion for 2020-21, which was … Read more

No WHT on banking transactions: Tax authorities to incur loss of Rs28 billion

banking transactions

KARACHI: The elimination of withholding tax on certain banking transactions would cost the tax authorities around Rs28 billion annually, besides hampering the efforts of compliance through the filing of income tax returns. The Finance Bill, 2021 has proposed to delete around 12 different provisions of withholding taxes, which is aimed at providing relief to the … Read more