Karachi, December 9, 2023 – The Federal Board of Revenue (FBR) has unveiled updated Sales Tax Rules for the tax year 2024, introducing a comprehensive framework for obtaining sales tax registration.
ISLAMABAD: The Federal Board of Revenue (FBR) has amended rules related to sales tax de-registration of a person or a company. The FBR issued SRO 51(I)/2022 dated January 13, 2022 to amend Sales Tax Rules, 2006. Rule 11 of the Sales Tax Rules, 2006 deals with de-registration. Under this rule, sub-rule (1) every registered person […]
ISLAMABAD: Federal Board of Revenue (FBR) on Thursday amended Sales Tax Rules, 2006 for process and claims of refunds by commercial exporters. In this regard the FBR issued SRO 1172(I)/2020 to make changes in the Sales Tax Rules, 2006 regarding filing and processing of refund claims. Following rules have been amended: Rule 28. Filing and […]
ISLAMABAD: Federal Board of Revenue (FBR) has notified rules for processing application to avail sales tax exemption on greenfield industry. The FBR issued SRO 777(I)/2020 to amend Sales Tax Rules 2006 and said that a registered person applying for approval of its industrial undertaking as “Greenfield Industry”, as defined in sub-clause (12A) of section 2 […]
ISLAMABAD: Federal Board of Revenue (FBR) has exempted various properties from attachment for recovery from tax defaulters. The FBR issued SRO 353(I)/2020 through which the tax officials have been restrained from attaching certain movable properties of a defaulter for recovery of due taxes. According to the notification, the FBR officials may not attach assets for […]
ISLAMABAD: Federal Board of Revenue (FBR) has made it mandatory for food outlets to display tax amount along with retail price in menus. The FBR on Wednesday issued SRO 353(I)/2020 to make it mandatory for all the restaurants, bakeries, caterers and sweetmeat shops supplying prepared foods, foodstuff and sweetmeat to show prices and amount of […]
KARACHI: Federal Board of Revenue (FBR) has authorized officers of Inland Revenue to attach immovable property of a sales tax defaulter for recovery of amount. According to Rule 112 of Sales Tax Rules, 2006, attachment of the immovable property of the defaulter shall be made, by the recovery officer, by an order prohibiting the defaulter […]
KARACHI: Sales tax rules have defined method for determination of input tax claimed by registered persons. According to rule 25 of Sales Tax Rules 2006, input tax paid on raw materials relating wholly to the taxable supplies shall be admissible under the law. Input tax paid on raw materials relating wholly to exempt supplies shall […]
ISLAMABAD: Federal Board of Revenue (FBR) has amended Sales Tax Rules 2006 to implement automated sales tax registration system. The FBR issued SRO 698(I)/2019 to amend Rule 5 of Sales Tax Rules, 2016. The amendment has been made in Rule 5 for sub-rule (2) to (9), the following shall be substituted, namely: “(2) The applicant […]