As the tax landscape evolves, tax authorities in Pakistan have recently issued an updated definition of Tier-1 retailers for the Tax Year 2023-24.
(more…)Tag: Sales Tax Act 1990
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Cracking the Code: Demystifying Taxable Activities Under Pakistan’s Sales Tax Act
Karachi, July 25, 2023 – The Federal Board of Revenue (FBR) has recently issued an updated version of the Sales Tax Act, 1990, which came into effect on July 1, 2023, and provides a comprehensive explanation of taxable activities in Pakistan.
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Input and Output Tax Defined under Sales Tax Act 1990 for Facilitation of Taxpayers
Karachi, July 23, 2023 – The Federal Board of Revenue (FBR) has recently updated the Sales Tax Act, 1990, introducing clear definitions of input tax and output tax aimed at streamlining tax-related processes and providing greater clarity for taxpayers. The updated act, which covers changes up to June 30, 2023, is set to be applicable from July 1, 2023.
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Sales Tax in Pakistan: A Definition for Clarity in Consumption Tax
Karachi, July 18, 2023 – The concept of sales tax has been formally defined under the prevailing tax laws in Pakistan, aiming to bring clarity and precision to the imposition of consumption tax.
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Sales Tax Law Defines Retail Price under Pakistan’s Tax Regulations
Karachi, July 18, 2023 – The Sales Tax Law in Pakistan has unveiled a clear definition of the retail price, bringing much-needed clarity for businesses and consumers.
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Sales Tax Act Defines Cottage Industry in Pakistan
Karachi, July 17, 2023 – The Sales Tax Act in Pakistan has recently provided a clear definition for the term “cottage industry.” The Federal Board of Revenue (FBR) has issued an updated version of the Sales Tax Act, 1990, effective from July 1, 2023.
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Updated Definition of Company Under Sales Tax Laws
The Federal Board of Revenue (FBR) has recently issued an updated definition of a company under the Sales Tax Act, 1990, effective from July 1, 2023.
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Understanding Definition of Active Taxpayer Under Sales Tax Act, 1990
In an effort to streamline tax administration and promote compliance, the Federal Board of Revenue (FBR) has recently released an updated definition of an active taxpayer under the Sales Tax Act, 1990.
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FBR Introduces Penalty for Non-Filing of Sales Tax Return, Imposes Stricter Guidelines
Karachi, July 9, 2023 – The Federal Board of Revenue (FBR) has taken a decisive step towards ensuring compliance with sales tax regulations by prescribing penalties for individuals and entities failing to furnish their monthly sales tax return.
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FBR updates Sales Tax Act incorporating new rates of 18% and 25%
ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday issued updated Sales Tax Act, 1990 incorporating new sales tax rates of 18 per cent and 25 per cent.
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