Correction in computerized CVT payment receipt allowed

ISLAMABAD: Federal Board of Revenue (FBR) has allowed correction in computerized payment receipt (CPR) for capital value tax (CVT). In this regard, the FBR amended the procedure.

The FBR issued an addendum on Thursday to the e-procedure that was notified on December 30, 2019. Previously, the FBR granted correction in CPR for income tax, sales tax and federal excise duty.

However, through the addendum the FBR said correction of CVT CPR shall only be allowed in respect of CVT paid on immovable property situated within territorial limits of Islamabad Capital Territory.

Further, the FBR said that heads of account (NAM) shall not be changed in the CPR except for CVT paid on immovable property situated within territorial limits of Islamabad Capital Territory.

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