Islamabad, November 10, 2023 – The Federal Board of Revenue (FBR) has taken a significant step toward modernizing tax documentation with the issuance of rules for electronic sales tax invoices.
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FBR Extends Lower Sales Tax Rate of 1% to Alternative Medicines
Karachi, July 22, 2023 – In a move to promote accessibility and affordability of alternative medicines, the Federal Board of Revenue (FBR) has extended the lower sales tax rate of 1 percent to the supply of alternative medicines/medicaments.
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Sales Tax Rate Increased to 15% for Tier-1 Retailers of Textile Products
Karachi, July 22, 2023 – In a move aimed at generating additional revenue and streamlining the tax structure, the Federal Board of Revenue (FBR) has announced an enhancement in the sales tax rate for Tier-1 retailers of finished fabrics and articles of textile leather, among other materials.
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FBR Imposes Sales Tax on Bulk Goods Sold Under Brand Names and Trademarks
Islamabad, July 21, 2023 – The Federal Board of Revenue (FBR) has taken the decision to apply sales tax on goods supplied under brand names and trademarks.
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Retailers to Face Three-Year Jail Term for Selling Contraband Cigarettes
Karachi, July 5, 2023 – The tax authorities have issued a stern warning to retailers, informing them of the possibility of a three-year jail term for selling contraband cigarettes. In a bid to curb the sale of unapproved and smuggled goods in the country, the government has recently amended the Sales Tax Act of 1990, introducing new penalties for offenders.
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Pakistan Retains Higher Sales Tax Rate at 18% for 2023-24 and Onwards
Islamabad, July 5, 2023 – In a move that may impact the economy and burden the masses, Pakistan has decided to retain the higher rate of general sales tax at 18 percent for the fiscal year starting July 1, 2023, and continuing onwards. The decision was announced by the Federal Board of Revenue (FBR) sources today.
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List of amendments to Sales Tax Act through Finance Bill 2023
Islamabad, June 9, 2023: Finance Bill 2023 has proposed various amendments to Sales Tax Act, 1990, according to Pakistan Budget 2023-24 released on Friday.
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Finance Bill 2023 – Sales Tax Salient Features
Following are the salient features introduced to Sale Tax through Finance Bill, 2023, according to Pakistan Budget 2023-24 revealed on Friday.
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FBR sets up committee for developing sales tax return filing portal
ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday set up a committee for development and designing the single portal for filing of sales tax return at national level.
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FBR directed to examine sales tax deduction on computerized arms licenses
ISLAMABAD: Federal Board of Revenue (FBR) has been directed to examine chargeability of sales tax on computerized arms license in the form of cards.
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