FBR moves to tax digital economy

FBR moves to tax digital economy

The Federal Board of Revenue (FBR) has issued new rules and regulations for online businesses and released a draft amendment to the Income Tax Rules, 2002 aimed at bringing the digital economy into the tax net. The FBR's statutory regulatory order (SRO) states that every entity engaged in online business will be required to submit monthly financial reports. Such entities will submit financial details through Form A1 and Form A2 on a monthly basi…