Updated Definition of Company Under Sales Tax Laws
The Federal Board of Revenue (FBR) has recently issued an updated definition of a company under the Sales Tax Act, 1990, effective from July 1, 2023.
The Federal Board of Revenue (FBR) has recently issued an updated definition of a company under the Sales Tax Act, 1990, effective from July 1, 2023.
In an effort to streamline tax administration and promote compliance, the Federal Board of Revenue (FBR) has recently released an updated definition of an active taxpayer under the Sales Tax Act, 1990.
Karachi, July 9, 2023 – The Federal Board of Revenue (FBR) has taken a decisive step towards ensuring compliance with sales tax regulations by prescribing penalties for individuals and entities failing to furnish their monthly sales tax return.
ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday issued updated Sales Tax Act, 1990 incorporating new sales tax rates of 18 per cent and 25 per cent.
ISLAMABAD: Pakistan on Monday revised laws to impose tax on retailers after suspending fixed tax scheme. President Arif Alvi has signed the bill namely Tax Laws (Second Amendment) Ordinance, 2022 to promulgate the revised taxation on the retailers. Through the immediate ordinance, amendments have been made to Sales Tax Act, 1990 under which retailers are […]
In a move aimed at enhancing revenue generation during the current fiscal year, Pakistan has implemented new amendments to both direct and indirect tax laws.
KARACHI: Significant changes have been made to sales tax laws through Finance Act, 2022 and that are applicable from July 01, 2022. PwC A.F. Ferguson & Co interpreted the changes made to Sales Tax Act, 1990 through the Finance Act, 2022, which are as follow: READ MORE: Key changes to income tax laws through Finance […]
ISLAMABAD: Following are the salient features of amendment made to Sales Tax Act, 1990 through Finance Bill, 2022. The proposed budgetary measures pertaining to Sales Tax for FY 2022-23 are: RELIEF MEASURES: 1. The condition of CNIC/NTN in case of supply to unregistered persons have been removed. READ MORE: Budget 2022/2023: Salient features of income […]
Section 76 of the Sales Tax Act, 1990, sheds light on the imposition and regulation of fee and service charges by the Federal Board of Revenue (FBR).
Section 75 of the Sales Tax Act, 1990, provides a mechanism for the application of certain provisions of Act IV of the Customs Act, 1969, in relation to the imposition and exemption from customs duties, draw-back of duty, warehousing, confiscation, and procedural aspects concerning offenses and appeals.