Pakistan Revenue
KARACHI: Sindh Revenue Board (SRB) has suspended sales tax registration of M/s. Multinet Pakistan (Pvt.) Limited for defaulting tax payment and non-compliance in filing monthly sales tax return.
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KARACHI: The government has allowed whitening of money investment in immovable properties at nominal income tax rate of 1.5 percent on declaration made by June 30, 2019.
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KARACHI: Sindh Revenue Board (SRB) has suspended sales tax registration of four freight forwarders for defaulting payment and non-compliance of filing sales tax returns. The SRB issued suspension notices to the following freight forwarders: Muhammad Rafique (M/s. Rafique Brothers) M/s. Prime Ocean Cargo Management Company (Pvt) Limited M/s. Shahnoor Weavers Muhammad Tahir Imam (M/s. ST […]
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KARACHI: A person, who is required to be get registration, paid sales tax on goods purchased from a registered person shall be treated as input tax. According to updated Sales Tax Act, 1990 issued by Federal Board of Revenue (FBR), the Section 59 explained the treatment of tax paid shall be input tax for a […]
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KARACHI: The Sindh government has exempted the insurance services from payment of sales tax up to June 30, 2019. Sindh Revenue Board (SRB) on Wednesday issued a notification stating that with the approval of the provincial government it had exempted the insurance services (other than its related re-insurance services) from the whole of the sales […]
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KARACHI: A massive resentment has been shown by the employees of Federal Board of Revenue (FBR) on nomination of a chartered accountant for top post of the revenue body. The working at the FBR is at standstill following the nomination of Shabbar Zaidi as FBR chairman by the Prime Minister two days back. The officers […]
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KARACHI: The sales tax law has defined the procedure for liability for payment of tax in case of private company is in state of liquidation. The updated Sales Tax Act, 1990 issued by Federal Board of Revenue (FBR), the Section 58 explained the payment method from the company is wound up. Section 58: Liability for […]
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KARACHI: The sales tax law had explained that no suit, prosecution or other legal proceeding shall lie against the federal government or against any public servant in respect of any order passed in good faith. The updated Sales Tax Act, 1990 issued by the Federal Board of Revenue (FBR) explained the bar of suits, prosecution […]
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KARACHI: Utility Stores Corporation (USC) has implemented subsidized rates under Ramazan Package announced by the government to provide relief the masses during the holy month, a top official said on Sunday. “The reduced rates have been implemented across the country from May 03, 2019 around three or four days ahead of Ramazan,” said Muhammad Javed […]
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KARACHI: The sales tax law has explained application of sales tax on taxable activity or transfer of ownership. According to updated Sales Tax Act, 1990 issued by Federal Board of Revenue (FBR) the law explained the sales of taxable activity or transfer of ownership. Section 49: Sales of taxable activity or transfer of ownership Sub-Section […]
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