FBR allows input tax adjustment to retailers

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday allowed input adjustment of sales tax to Tier-1 retailers. The FBR issued SRO 344(I)/2020 to amend SRO 1190(I)/2019 dated October 02, 2019. The FBR... Read more »

Chartered accountants liable to penal action for issuing false tax certificate

KARACHI: Any auditor of professional accountancy firm is liable to penal action in case found guilty of misconduct in furnishing false tax certificate, sources in Federal Board of Revenue (FBR) said. Read more »

KTBA highlights anomalies in claiming input tax adjustment

KARACHI: Karachi Tax Bar Association (KTBA) has highlighted impediments face by taxpayers in claiming input sales tax adjustment. Read more »

FBR urged to resolve input adjustment on payment made through BOAD

KARACHI: Karachi Tax Bar Association (KTBA) on Thursday urged Federal Board of Revenue (FBR) to resolve the input adjustment issue on payment made through Bill of Additional Duty (BOAD). Read more »

FBR issues fresh list of sectors allowed input tax adjustment

ISLAMABAD: Federal Board of Revenue (FBR) has issued fresh list of sectors to allow input adjustment by amending the Section 8B of Sales Tax Act, 1990. Read more »

PTBA suggests allowing further tax adjustment to suppliers

KARACHI: Pakistan Tax Bar Association (PTBA) has recommended the Federal Board of Revenue (FBR) to allow adjustment of further tax against input tax. Read more »

Sales Tax Act 1990: Invoice issued by suspended taxpayers not to be entertained for refund, input adjustment

KARACHI: Any invoice issued by a person, who is suspended or black listed by tax authorities, may not be acceptable for refund claim or input adjustment by another registered person. Read more »

Sales Tax Act 1990: deduction of input tax by registered persons

KARACHI: A sales tax registered person is allowed to deduct input tax against output tax for determination of taxable supplies made during a period. Read more »