Karachi, December 2, 2023 – The Federal Board of Revenue (FBR) has taken a significant leap into the digital age as it gains real-time access to information and databases under the recently updated Sales Tax Act, 1990 for the tax year 2024.
(more…)Tag: Sales Tax Act 1990
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FBR Unveils Sales Tax Recovery Procedure for Tax Year 2024
Karachi, November 28, 2023 – The Federal Board of Revenue (FBR) has announced the comprehensive procedure for the recovery of sales tax for the upcoming tax year 2024.
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Sales Tax Act Empowers Taxpayers with Right to Appeal Against Inland Revenue Orders
Karachi, November 27, 2023 – The Federal Board of Revenue (FBR) has unveiled the updated Sales Tax Act, 1990 for the upcoming tax year 2024, providing taxpayers with the right to appeal against decisions or orders made by officers of the Inland Revenue.
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Commissioner Inland Revenue Granted Suo Moto Powers to Scrutinize Records in Tax Year 2024
Karachi, November 26, 2023 – The Commissioner Inland Revenue has been bestowed with suo moto powers to call for records during the tax year 2024.
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FBR Grants Travel Allowance to Tax Officials for Monitoring Duties
Karachi, November 23, 2023 – The Federal Board of Revenue (FBR) has announced the granting of travel allowances to tax officials deployed at business premises of taxpayers for the purpose of monitoring transactions.
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Inland Revenue Officers Granted Powers to Arrest Sales Tax Fraud During Tax Year 2024
Karachi, November 22, 2023 – The Federal Board of Revenue (FBR) has bestowed unprecedented powers upon Inland Revenue officers to arrest individuals involved in sales tax fraud during the tax year 2024.
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FBR Announces Rates of Sales Tax Default Surcharge for Tax Year 2024
Karachi, November 21, 2023 – The Federal Board of Revenue (FBR) has notified the rates of default surcharge under the Sales Tax Act, 1990, for the tax year 2024.
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FBR Sets Monetary Penalties for Failure in Sales Tax Return Filing in Tax Year 2024
The Federal Board of Revenue (FBR) has introduced monetary penalties for individuals or entities failing to file their sales tax returns for the Tax Year 2024.
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Tax Evaders Get Chance to Avoid Harsh Action Under Pakistan Laws
Karachi, November 19, 2023 – In a bid to encourage voluntary compliance and streamline tax processes, tax evaders in Pakistan now have the opportunity to avoid severe consequences by paying fines and penalties at the preliminary stage of investigation.
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FBR Advises Taxpayers to Maintain Detailed Records for Tax Year 2024
Karachi, November 19, 2023 – The Federal Board of Revenue (FBR) has issued a directive advising taxpayers to maintain comprehensive records of purchases and supplies throughout the tax year 2024.
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