ISLAMABAD: Federal Board of Revenue (FBR), Through Finance Bill, has increased tax rate for loss declaring companies by 25 percent.
Through Finance Bill, 2017 amendment has been introduced to Section 113 of Income Tax Ordinance, 2001. The minimum tax under this section has been increase to 1.25 percent from one percent. Tax experts said that the enhancement in minimum tax rate on turnover would have negative impact on companies genuinely facing losses.
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