US EditionFBR to Get Powers Akin to SHO; 18% Sales Tax on E-Commerce Transactions Proposed
- The Federal Board of Revenue will gain expanded powers similar to those of a station house officer to inspect audit firms preparing income tax returns, as reported by The Express Tribune.
- New regulations will require buyers of vehicles or property to prove that the declared value is within 130% of their declared income from the previous year.
- The proposed legislation allows the FBR to share taxpayer information with commercial banks, which must report any income discrepancies found during checks according to the new budget for fiscal year 2025-26.
- The FBR will gain authority to monitor goods like sugar with an enhanced cargo tracking system to enforce compliance with tax regulations.
10 Articles
10 Articles
FY26: Govt proposes imposing tax on online shopping in finance bill
Bill says every payment intermediary shall file quarterly withholding statement.Every online marketplace shall submit amount deposited into vendor's account.Federal Board of Revenue brings online shopping into tax net in Finance Bill.
FBR officials to gain expanded authority similar to SHO powers - Profit by Pakistan Today
Taxmen will now have the authority to inspect chartered accountancy and audit firms preparing income tax returns, close unregistered bank accounts, and access the offices of tax advisers and firms where discrepancies in returns are suspected
Minister propose revisions in E.Commerce taxation framework to support SMEs
Minister for Commerce Jam Kamal Khan Thursday said that E.Commerce Policy 2.0 was in its final stages of internal review and will soon be submitted before the Federal Cabinet for formal approval. In a high-level meeting held to address key issues in Pakistan’s rapidly expanding E.Commerce sector, Minister for Commerce Jam Kamal Khan and Minister for Information Technology and Telecommunication Shaza Fatima Khawaja discussed multiple aspects cove…
Online Shopping Comes Under Tax Net in Finance Bill 2025-26
The Federal Board of Revenue (FBR) has officially brought online shopping within the tax net under the Finance Bill 2025-26. According to The News, this significant move aims to regulate the growing e-commerce sector and ensure tax compliance from digital marketplaces, payment intermediaries, and courier services involved in the sale of goods and services ordered online. The newly introduced Section 165C outlines that every payment intermediary …
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