sales tax Archives - Page 7 of 11

Budget 2021/2022: Duty, taxes abolished on cars up to 850cc

June 11, 2021June 11, 2021Mrs. Anjum Shahnawaz

ISLAMABAD: The government has announced abolishing duty and taxes on locally manufactured and imported cars with engine capacity up to 850cc to enable low earning families to afford motor vehicles. Finance Minister Shaukat Tarin while presenting federal #budget 2021/2022 on Friday announced duty and tax incentives for sale and import of motor cars with engine […]

Budget 2021/2022: Turnover up to Rs10 million not required for sales tax registration

June 11, 2021August 28, 2025Mrs. Anjum Shahnawaz

ISLAMABAD: The government has facilitated small businesses and increased the threshold of turnover up to Rs10 million from Rs3 million and they will not be required to get sales tax registration.

Budget 2021/2022: Consumers to get prizes on sales tax receipts

June 11, 2021June 11, 2021Mrs. Anjum Shahnawaz

ISLAMABAD: Finance Minister Shaukat Tarin on Friday said that the government will incentivize consumers through a system of prizes on sales tax receipts through an open ballot every month. The finance minister while presenting the federal budget 2021/2022 on the floor of the house said that a special cell in FBR had been established comprising […]

Budget 2021/2022: salient features of budget measures in sales tax regime

June 11, 2021January 19, 2026Mrs. Anjum Shahnawaz

ISLAMABAD: The federal government on Friday presented budget 2021/2022 and announced following budgetary measures pertaining to Sales Tax:

Sales tax incentive granted on supplies by restaurants

June 9, 2021May 31, 2022Mrs. Anjum Shahnawaz

ISLAMABAD: The government has announced an incentive on sales tax rate on supplies made by restaurants and eateries on account of takeaway. The FBR issued SRO 725(I)/2021 dated June 08, 2021 to exempt sales tax in excess of five percent chargeable on supplies made by restaurants and eateries on account of takeaway subject to the […]

Sales tax record must be retained for six years

March 14, 2021January 2, 2024Mrs. Anjum Shahnawaz

ISLAMABAD – In a bid to enhance transparency and compliance, the Federal Board of Revenue (FBR) has stipulated that registered businesses must retain their sales tax records for a period of six years for audit and examination purposes.

FBR amends law for sales tax recovery

February 25, 2021January 24, 2024Mrs. Anjum Shahnawaz

The Federal Board of Revenue (FBR) has amended tax laws to legally authorize the direct recovery of sales tax amounts from the bank accounts of tax defaulters.

What is sales tax?

February 9, 2021May 25, 2026Mrs. Anjum Shahnawaz

Sales Tax Act, 1990 has explained the meaning of sales tax imposed on supply of goods.

FBR exempts entire sales tax on import of 52 fire tenders

February 3, 2021January 15, 2024Mrs. Anjum Shahnawaz

The Federal Board of Revenue (FBR) announced on Wednesday the exemption of sales tax and additional sales tax on the import of 52 fire-fighting vehicles.

CNIC made mandatory for recipient of services

August 7, 2020August 7, 2020Mrs. Anjum Shahnawaz

ISLAMABAD: Federal Board of Revenue (FBR) has said that buyer’s CNIC (Computerized National Identity Card) detail is now mandatory on the invoice issued by seller for providing service in order avail credit. The FBR in its explanation of Sales Tax and Federal Excise through Circular No. 01 of 2020, stated the word “services” has been […]

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