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[ad_1] MUMBAI: Manal Corwin has been appointed to serve as the next Director of the OECD Centre for Tax Policy and Administration beginning April 3, 2023. Corwin will lead the work of the Centre across all areas, including the two-pillar solution to the tax challenges of digitalisation, the Base Erosion and Profit-Shifting (BEPS) Project, the tax transparency agenda, and the Centre’s participation in the OECD’s new Inclusive Forum on carbon mitigation approaches. Currently, she serves as Partner-in-charge of the National Tax Office and Lead Director of the Board of Directors for KPMG in the United States. In the past, she has served twice in the Office of Tax Policy in the US Department of Treasury including serving as Deputy Assistant Secretary for International Tax Affairs, during which time she played a key role in launching the BEPS initiative, drove development of the international standard for automatic exchange of financial account information, and served as head of th

[ad_1] ITR Filing: About 5.83 crore income tax returns were filed as on July 31 last year, the last day for filing returns for assessment year 2022-23. Acting as consolidated tax credit system, Form 26AS plays an important role in all the tax payments made on your behalf by your employer or clients. Form 26AS is something you should be aware of if you are a person or a business submitting tax returns . Form 26AS, which serves as a unified tax credit system, is essential in all tax payments made on your behalf by your company or clients. It contains important information regarding Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) from various income sources such as banks and employers. What is the significance of Form 26AS, and why should you pay attention to it before completing your income tax returns? Let us dissect it and grasp its significance: Form 26AS is like an annual statement provided to taxpayers by the Income Tax Department. It’s a summary of your tax info

[ad_1] ISLAMABAD: The Federal Board of Revenue (FBR) has recommended the imposition of a 5% tax on bonus shares issued by companies and on their undistributed profits in the next budget. This proposal would primarily affect family-owned companies but would benefit minority shareholders. Sources told The Express Tribune that the FBR is contemplating the reinstatement of two old tax measures that were previously dropped for various reasons. These measures involve levying a 5% income tax on bonus shares issued by companies instead of paying dividends to shareholders. If approved by the finance minister and later by the prime minister, the bonus tax proposal would provide a dual benefit to the tax authorities. If companies pay dividends, the FBR would receive a 15% tax, and if companies opt to issue bonus shares, the FBR would still collect a 5% tax. Finance Minister Ishaq Dar will begin reviewing and either accepting or rejecting taxation proposals soon, as the budget announceme