Tag: Sales Tax Act 1990

Karachi, December 17, 2024 – The Federal Board of Revenue (FBR) has issued a detailed clarification on the treatment of sales tax when there is a change in the applicable tax rate. This clarification is designed to provide clear guidance to taxpayers and ensure uniform compliance.

Karachi, December 16, 2024 – The Federal Board of Revenue (FBR) has issued a detailed list of goods eligible for zero-rating of sales tax for the tax year 2025.

Karachi, December 15, 2024 – The Federal Board of Revenue (FBR) has clarified the treatment for the collection of excess sales tax, as outlined in Section 3B of the Sales Tax Act, 1990. This section addresses scenarios where excess tax is collected from consumers, whether due to misinterpretation of legal provisions or other reasons.

The Federal Board of Revenue (FBR) has addressed the long-standing ambiguity in determining the “value of supply” for the purpose of calculating sales tax under the updated Sales Tax Act, 1990, applicable for the tax year 2025.

Karachi, December 12, 2024 – The Federal Board of Revenue (FBR) has clarified the concept of “time of supply” for the collection of sales tax, eliminating ambiguities that previously existed among taxpayers and businesses.

The Federal Board of Revenue (FBR) has clarified the definition of Tier-1 retailers as outlined under the Sales Tax Act, 1990. This classification is significant for taxation purposes, particularly regarding compliance and documentation requirements.

Islamabad, December 11, 2024 – The Federal Board of Revenue (FBR) has officially updated the definition of sales tax fraud, refining its core language to ensure greater clarity and prevent misinterpretation. This updated definition, which comes as part of the revised Sales Tax Act of 1990, will apply to the tax year 2025 and aims to strengthen the enforcement of sales tax regulations across Pakistan.