New Sales Tax Measures under Finance Bill 2024
Islamabad, June 12, 2024 – The Federal Board of Revenue (FBR) has unveiled a series of new sales tax measures through the Finance Bill 2024.
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Tag: sales tax
KPK Introduces Fixed Tax for Lawyers and Customs Agents
In a pivotal move aimed at simplifying the tax system, the Khyber Pakhtunkhwa (KPK) government has announced the implementation of a fixed sales tax on services for lawyers and customs agents.
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ECC Approves Enhanced 25% Sales Tax Rate on Local Vehicles
Islamabad, February 15, 2024 – The Economic Coordination Committee (ECC) of the Cabinet, during its meeting on Wednesday, gave the nod to an increased sales tax rate of 25 percent on locally assembled vehicles.
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FBR Restricts Retailers from Issuing Temporary Sales Tax Invoices via POS System
Karachi, December 7, 2023 – The Federal Board of Revenue (FBR) has implemented a directive preventing integrated retailers from issuing temporary sales tax invoices through the Point of Sale (POS) system.
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FBR Achieves Rs 722 Billion in Revenue from Petroleum Duties and Sales Tax in FY23
Karachi, December 2, 2023 – The Federal Board of Revenue (FBR) has successfully garnered Rs 722 billion through customs duty and sales tax on the import and supply of petroleum products during the fiscal year 2022-2023.
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KCCI Urges Immediate Rectification of Technical Glitches Affecting Sales Tax Return Filings
Karachi, November 23, 2023 – The Karachi Chamber of Commerce and Industry (KCCI) has brought to light a series of technical errors that have impeded the filing of monthly sales tax returns.
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Citizens Rejoice as Government Extends Sales Tax Holiday on Petroleum Products
Karachi, November 16, 2023 –The citizens in Pakistan are set to continue enjoying a sales tax holiday on the purchase of petroleum products throughout the second half of November 2023 in a move of the government aimed at providing relief to the masses amidst a global economic downturn.
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Input Tax and Output Tax under Sales Tax Act for Tax Year 2024
Input tax and output tax have been explained under Sales Tax Act, 1990 for Tax Year 2024 by the Federal Board of Revenue (FBR).
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Green industry in Pakistan defined for Tax Year 2024
Green industry in Pakistan has been defined for Tax Year 2024 under updated Sales Tax Act, 1990 released by Federal Board of Revenue (FBR).
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FBR Introduces Electronic Sales Tax Invoice Rules to Modernize Transaction Recording
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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