ISLAMABAD – In a significant move to streamline the references to authorities within the Sales Tax Act, 1990, Section 72A has been introduced through the Finance Act, 2021.
In a bid to ensure effective implementation and enforcement of tax-related regulations, Section 72 of the Sales Tax Act, 1990, mandates that officers of Inland Revenue and other individuals engaged in the execution of the Act must adhere to the orders, instructions, and directions issued by the Federal Board of Revenue (FBR).
ISLAMABAD: Finance Minister Shaukat Tarin on Friday warned tax evaders and potential taxpayers to pay their liabilities before harsh actions initiated against them. At the launching of National Sales Tax Return, by Federal Board of Revenue (FBR), he asked the unregistered potential taxpayers to initiate paying taxes before the government reaches them within a couple […]
ISLAMABAD: A senior auditor of Federal Board of Revenue (FBR) has been awarded major penalty of ‘dismissal from service’ on allegations of corruption, misconduct and inefficiency. The FBR on Friday through a notification said that disciplinary proceedings under Government Servants (Efficiency & Discipline) Rules, 1973 were initiated against Gulraiz Ahmad Raza, Senior Auditor (BS-16), while […]
The launch of single sales tax return will help the authorities to prevent tax evasion and end the phenomenon of fake and flying invoices. The Federal Board of Revenue (FBR) said that the single sales tax return will facilitate the taxpayers. Besides it will promote ease of doing business and reduce compliance cost as well. […]
The Federal Board of Revenue (FBR) has reported a remarkable surge in the annual collection of sales tax on imports, marking a growth of over 27% during the fiscal year 2020/2021.
ISLAMABAD: The Federal Board of Revenue (FBR) has identified 1,284 retailers for force them to integrate Point of Sale (POS) with the tax system. The FBR on Wednesday issued a list of 1,284 retailers by notifying Sales Tax General Order (STGO) No. 7 of 2022 dated January 05, 2022. READ MORE: Prize scheme on invoices […]
In a move to enhance flexibility and adaptability within the tax framework, Section 71 of the Sales Tax Act, 1990, grants authority to the Federal Board of Revenue (FBR) to prescribe special procedures for the payment and submission of documents.
ISLAMABAD – A recent amendment to the Sales Tax Act, 1990, introduced through the Finance Act, 2021, sheds light on the computation of the limitation period for appeals or applications.
The Directorate of Customs Intelligence and Investigation Karachi has announced an upcoming auction of old and used imported vehicles scheduled for January 7, 2022.