Karachi, January 14, 2025 — The Federal Board of Revenue (FBR) has unveiled a detailed procedure governing the actions of Inland Revenue (IR) officers in the arrest of individuals suspected of violating tax laws.
(more…)Tag: Sales Tax Act 1990
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Sales Tax Act Empowers IR Officers to Arrest and Prosecute
Karachi, January 11, 2025 – The Sales Tax Act, 1990, empowers officers of Inland Revenue (IR) to arrest and prosecute individuals for non-compliance with tax laws, strengthening enforcement mechanisms for tax evasion and fraud.
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How Much You Pay Default Surcharge for Tax Payment Failure?
The Federal Board of Revenue (FBR) has clarified the rates and application of default surcharge for taxpayers who fail to meet their tax payment obligations. This surcharge is governed under Section 34 of the Sales Tax Act, 1990, and applies to both intentional and unintentional delays or errors in tax payments.
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Evade Tax, Face 10 Years: FBR Sends Stern Message
Karachi, January 10, 2025 – The Federal Board of Revenue (FBR) has announced stringent measures against sales tax fraud, including a jail term of up to 10 years for offenders. These penalties are prescribed under the Sales Tax Act, 1990, and aim to curb fraudulent practices that undermine the country’s revenue collection efforts.
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Harsh Penalties Announced for Obstructing FBR Officials
Karachi, January 9, 2025 – The Federal Board of Revenue (FBR) has issued a stern warning against obstructing its officials during the performance of their duties, emphasizing that such actions could lead to severe penalties, including imprisonment.
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Monetary Penalty Prescribed for Falsifying Sales Tax Records
Karachi, January 6, 2025 – The Federal Board of Revenue (FBR) has outlined specific penalties for individuals found guilty of falsifying sales tax records, as per the provisions of the Sales Tax Act, 1990.
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Sales Tax Deposit Failure to Attract Three-Year Jail
Karachi, January 5, 2025 – The Federal Board of Revenue (FBR) has outlined severe consequences for the failure to deposit sales tax dues, including a potential three-year jail term. According to the Sales Tax Act, 1990, individuals who fail to remit the required sales tax within the prescribed deadlines face strict fines, penalties, and even imprisonment.
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FBR to Impose Stiff Fines for Sales Tax Return Offenses
Karachi, January 5, 2025 – The Federal Board of Revenue (FBR) will impose strict penalties to address delays and non-compliance in filing sales tax returns, emphasizing the importance of timely submissions under the Sales Tax Act, 1990.
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ST Return Filing Deadline? FBR Reveals Extension Secrets
Karachi, January 4, 2025 – The Federal Board of Revenue (FBR) has introduced a clear procedure for taxpayers seeking an extension in filing their sales tax returns. This step aims to streamline compliance and provide relief to registered persons facing genuine difficulties.
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FBR Tightens Reins: Full Sales Details Now Compulsory
Karachi, January 4, 2025 – The Federal Board of Revenue (FBR) has made it mandatory for registered taxpayers to furnish comprehensive transaction details in their sales tax returns.
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