SRB suspends sales tax registration of Sharp Telecom

SRB suspends sales tax registration of Sharp Telecom

The Sindh Revenue Board (SRB) has taken decisive action against M/s. Sharp Telecom (Pvt) Limited, suspending its sales tax registration due to failure in making timely payments and filing monthly returns, as per an official notice issued on Friday.

The provincial revenue authority revealed that the sales tax registration of M/s. Sharp Telecom has been suspended in light of its default in payment of sales tax on services for the month of January 2019. Additionally, the company has allegedly failed to submit the required monthly sales tax return for the same period.

According to the SRB, the non-payment of sales tax on services and the failure to file returns within the stipulated time and manner represent a violation of the Sindh Sales Tax on Services Act, 2011.

The suspension of the company’s sales tax registration is not permanent, as the SRB outlined specific remedial measures that, if taken, could lead to the reinstatement of the registration. The SRB has set a deadline of March 16, 2019, for M/s. Sharp Telecom to rectify the situation.

In its official statement, the SRB stated that the suspension of the registration would be revoked if the company takes necessary remedial measures by the specified date. However, it also warned that a non-satisfactory response or failure to implement the suggested remedial actions by March 16, 2019, would result in the case being further proceeded for the cancellation of registration with the SRB.

This move by the SRB reflects the government’s commitment to ensuring tax compliance and adherence to the provisions of the Sindh Sales Tax on Services Act, 2011. The suspension serves as a stern warning to businesses that neglecting tax obligations and failing to adhere to regulatory requirements will have serious consequences.

The SRB’s emphasis on providing a window for remedial actions underscores the government’s willingness to work with businesses to resolve issues. However, the specified deadline also signals the urgency with which the SRB expects companies to address and rectify their tax-related discrepancies.

M/s. Sharp Telecom now faces a critical period during which it must take immediate corrective actions to avoid the potential cancellation of its sales tax registration. This development serves as a reminder to businesses across the region about the importance of timely tax payments and compliance with regulatory obligations to maintain a healthy and transparent business environment.