Karachi, December 30, 2024 – The Federal Board of Revenue (FBR) has outlined the categories of individuals and businesses that are mandated to register for sales tax under the Sales Tax Act, 1990. This move is part of the FBR’s ongoing efforts to ensure compliance and expand the tax net.
(more…)Tag: Sales Tax Act 1990
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Power of Tax Authorities to Modify Orders Under STA 1990
Karachi, December 29, 2024 – Section 11C of the Sales Tax Act (STA), 1990, empowers tax authorities to adjust or modify assessments and orders based on decisions made by higher judicial bodies.
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FBR Can Recover Short Paid Sales Tax Without Notice
Karachi, December 29, 2024 – The Federal Board of Revenue (FBR) has been granted the authority to recover short-paid sales tax amounts without issuing prior notice to the taxpayer. This authority is enshrined in Section 11A of the Sales Tax Act, 1990, which allows the FBR to act swiftly in cases of underpayment.
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FBR Allows Refunds of Input Tax under Sales Tax Act
Karachi, December 26, 2024 – The Federal Board of Revenue (FBR) has authorized refunds of input tax under Section 10 of the Sales Tax Act, 1990, bringing relief to registered persons who face an excess of input tax over output tax during a tax period. This provision, as clarified by the FBR, aims to streamline the refund process and ensure smoother tax compliance for businesses.
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FBR Explains Joint and Several Liability on Unpaid Tax
Karachi, December 26, 2024 – The Federal Board of Revenue (FBR) has issued a detailed explanation regarding the joint and several liability of registered persons within the supply chain when taxes remain unpaid. This clarification is provided under Section 8A of the Sales Tax Act, 1990.
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FBR Clarifies Tax Credit Restrictions for Supplies
Karachi, December 23, 2024 – The Federal Board of Revenue (FBR) has clarified that tax credit will not be allowed on supplies of certain goods, following the stipulations set under Section 8 of the Sales Tax Act, 1990. This new directive is part of the government’s effort to regulate the input tax credit system and ensure that only eligible businesses benefit from tax credits.
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Tax Laws (Amendment) Bill, 2024: No Input Tax Adjustment
Karachi, December 18, 2024 – Registered taxpayers in Pakistan may face significant challenges as the federal government has proposed the removal of input tax adjustment for supplies made to unregistered persons. The amendment, introduced as part of the Tax Laws (Amendment) Bill, 2024, seeks to tighten compliance and broaden the tax net under the Sales Tax Act, 1990.
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Pakistan Proposes Harsh Actions for Sales Tax Registration Failure
Karachi, December 18, 2024 – The government of Pakistan has introduced stringent measures to enforce compliance with the Sales Tax Act, 1990. Aimed at broadening the tax net, these measures target individuals and entities who fail to obtain mandatory registration. The proposed amendments, introduced as part of the Tax Laws (Amendment) Bill, 2024, include the addition of Section 14AE to the Sales Tax Act.
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Tax Laws (Amendment) Bill, 2024: Property Transfer Restriction
Karachi, December 18, 2024 – In a step toward enhancing tax compliance, the federal government has proposed restrictions on the transfer of immovable property for individuals or entities failing to register under the Sales Tax Act, 1990.
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Tax Laws (Amendment) Bill, 2024: Bar on Bank Account Operations
Karachi, December 18, 2024 – In a development aimed at tightening tax compliance, the federal government has proposed a key amendment to the Sales Tax Act of 1990. The government tabled the Tax Laws (Amendment) Bill, 2024 in the National Assembly on Wednesday, which introduces Section 14AC to the Sales Tax Act. The proposed section grants the Commissioner the authority to bar the operations of bank accounts for individuals or entities that fail to register for tax purposes.
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