Tag: Sales Tax Act 1990

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.

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.

The Federal Board of Revenue (FBR) has updated the Sales Tax Act, 1990 to make sales tax registration mandatory for various entities during the tax year 2024.

Time and manner of sales tax payment for Tax Year 2024 have been explained by the Federal Board of Revenue (FBR) through updated Sales Tax Act, 1990.

Preventing Passing on of excess sales tax to consumers in Pakistan has been outlined through Section 3B of Sales Tax Act, 1990.

The Federal Board of Revenue (FBR) has explained value of supply for sales tax levy during tax year 2024 to facilitate taxpayers in understanding the tax liability.