Property Valuation FBR State Bank of Pakistan

The Finance Bill 2016 an amendment to Section 68 of Income Tax Ordinance, 2001 had been proposed under which commissioner Inland Revenue had been empowered to reject the collector value of provincial government and appoint valuation committee to ascertain fair market value to determine the income tax. The amendment seeks to determine fair market value […]

Government of Pakistan announces new scheme turns black money into white

Government of Pakistan announces new scheme turns black money into white money. Government of Pakistan has in January 2016 announced tax amnesty scheme for providing certain exemption to the persons who could not pay taxes on their income. The scheme will allow the tax-payers to broaden the tax net by simply paying 1% tax on […]