Tag: Sales Tax Act 1990

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.

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.

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.

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.