Karachi, January 2, 2025 – The Sindh Revenue Board (SRB) has invited stakeholders to submit tax proposals for the upcoming Budget 2025-26, signaling its commitment to fostering a collaborative approach to fiscal planning. The SRB aims to incorporate the suggestions of taxpayers and industry representatives into the final budget to ensure a balanced and effective taxation framework.
In an official notification, the SRB announced it is preparing budgetary proposals concerning the Sindh Sales Tax on Services Act, 2011, and related procedural rules. These include the Sindh Sales Tax on Services Rules, 2011, as well as several special procedure rules, such as those for withholding tax, the transportation of petroleum products via oil tankers, services provided by cab aggregators, online business integration, and tax on specified services. Additionally, the Sindh Place of Provision of Service Rules, 2023, and other relevant notifications under the 2011 Act are also under review.
The SRB emphasized its longstanding policy of engaging all stakeholders in the budgetary process. The consultation extends to Chambers of Commerce and Industry, business councils, trade associations, tax bars, professional accountancy bodies, and individual taxpayers. By involving these groups, the SRB seeks to address industry-specific challenges, enhance compliance, and refine the tax structure to better align with the province’s economic goals.
To facilitate this participatory process, the SRB has requested stakeholders to submit their written proposals in a prescribed format. These proposals must be received by Friday, January 31, 2025, ensuring adequate time for review and consideration. Stakeholders are encouraged to present suggestions that simplify tax compliance, address sectoral inequities, and propose innovative solutions for expanding the tax base without imposing undue burdens on businesses.
The annual budget is a critical tool for Sindh’s economic development, and the inclusion of stakeholder perspectives ensures policies that are both practical and progressive. By inviting input from a diverse group of contributors, the SRB underscores its commitment to transparency and fairness in taxation.
This initiative highlights Sindh’s efforts to create a more inclusive and responsive fiscal framework, ultimately contributing to a stable and growth-oriented economic environment in the province. Stakeholders now have the opportunity to shape the region’s taxation policies, making their voices a vital part of the decision-making process.