Karachi Tax Bar Association (KTBA) has highlighted irritants in declaring debit and credit notes on the portal of Sindh Revenue Board (SRB).
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Sindh extends tax exemptions to flood relief services up to June 30
KARACHI: The Sindh government has announced the extension of the exemption from sales tax on services up to June 30, 2023, providing continued relief for various sectors.
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Sindh Revenue Board raids posh club in DHA
KARACHI: Sindh Revenue Board (SRB) Thursday raided a posh club in Defence Housing Authority (DHA) for defaulting payment of sales tax.
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Sindh brings web hosting, cloud services under tax net
KARACHI: Sindh has brought web hosting and cloud services under provincial sales tax net, according to the amended law.
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Sindh Revenue Board to seal businesses not on active taxpayers list
KARACHI: The Sindh Revenue Board (SRB) has been vested with the power to seal the businesses of individuals not listed on the Active Taxpayers List (ATL), as per the recent amendment to the Sindh Sales Tax on Services (Amendment) Act.
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SRB extends date for sales tax return, payment
Karachi: The Sindh Revenue Board (SRB) issued Circular No. 02/2023 on Tuesday, extending the deadline for filing monthly returns and making sales tax payments for the tax period of February 2023.
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SRB achieves highest ever monthly tax collection in December 2022
KARACHI: The Sindh Revenue Board (SRB) has marked a historic milestone by achieving its highest-ever monthly tax collection in December 2022 since its inception in 2011.
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Dental practitioners given December 31 deadline for tax registration
KARACHI: Sindh Revenue Board (SRB) has given a deadline of December 31, 2022 to dental practitioners to get registered for sales tax on services, according to a notification issued on Wednesday.
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SRB invites proposals for budget 2023-2024
KARACHI: Sindh Revenue Board (SRB) has invited proposals for budget 2023-2024 and advised stakeholders to send their recommendations by January 27, 2023.
In a notification issued on Tuesday, the SRB said that it had invited proposals in relation to the Sindh Sales Tax on Services Act, 2011 and the Rules and Notifications issued thereunder.
The provincial revenue body said that it was in the process of formulating budgetary proposals (for the Sindh Budget 2023-2024) in relation to taxation and procedural provisions of Sindh Sales Tax on Services Act, 2011, The Sindh Sales Tax on Services Rules, 2011, the Sindh Sales Tax Special Procedures (Withholding) Rules, 2014, the Sindh Sales Tax Special Procedure (Transportation or Carriage of Petroleum Oil through Oil Tankers) Rules, 2018, the Sindh Sales Tax Special Procedure (Services provided or rendered by cab aggregator and the services provided or rendered by the owners or drivers of the motor vehicles using the cab aggregator services) Rules, 2019 and Sindh Sales Tax Special Procedure (Online Integration of Business) Rules, 2022 and other various notifications issued under the said Act, 2011.
It has been a policy of the SRB to consult all chambers, associations, groups, stakeholders and taxpayers before finalizing the budget proposals.
With this end in view, the SRB requests all persons (including the chambers of commerce and industry, business councils, trade associations, tax bars, Institute of Chartered Accountants, Institute of Cost and Management Accountants, taxpayers etc.) to send written proposals in the given format urgently so as to reach through e-mail (followed by its hard copy to be sent by post / courier) latest by Friday, January 27, 2023.
The SRB asked the stakeholders to provide proposals in the format included: name of the act/rules/notification proposed to be amended; section no., schedule no., tariff heading no., rule no., para no., involved; existing provisions/rates of tax/ proposed provisions/rates of tax; reasons and rationale for the proposal; and estimated revenue effect, (if any).
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SRB says cases worth Rs 80 billion stuck in litigation
KARACHI: Sindh Revenue Board (SRB) Friday said that cases worth Rs80 billion were stuck in litigation and it is willing to resolve amicably.
SRB chairman Dr. Wasif Ali Memon highlighted that Rs80 billion worth of cases are stuck in litigation and the provincial revenue board is all-willing to resolve as many cases amicably as possible.
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“We want to be the facilitators and partners to the business community and no highhandedness is ever desired by SRB,” he added during his visit to Federation of Pakistan Chambers of Commerce and Industry (FPCCI).
On the demand of FPCCI, Dr. Wasif Ali Memon announced that an effective and inclusive Alternative Dispute Resolution Committee (ADRC) would be formulated by SRB in few weeks and we will include 5 – 6 nominees of FPCCI into the committee.
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Chairman SRB also proposed that FPCCI nominees should come from varied sectors to address issues of all the sectors. Additionally, he requested the business community to exhaust the ADRC and other SRB procedures before going into litigation as it only delays the dispute resolution.
On the occasion, Irfan Iqbal Sheikh, President FPCCI, has stressed upon the need to strengthen and broaden the scope of ADRC to save the precious time, resources and hassle of both the sides, i.e. business community and the SRB.
Co-chairing the high-profile meeting with SRB Chairman, Suleman Chawla, SVP FPCCI, offered to nominate technical and expert members of the business, industry and trade community from the platform of FPCCI to facilitate SRB’s efforts to strengthen ADRC.
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FPCCI nominees will come with the first-hand knowledge of real issues and with deep understanding of the taxation matters, he added.
Shabbir Mansha, VP FPCCI, demanded that as Karachi contributes the lion’s share of taxes in federal & provincial authorities, there should be an enhanced focus on the infrastructural development of Karachi – specifically in industrial& commercial areas and port infrastructure. This will only increase the revenue generation from Karachi, he added.
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Shuakat Omerson, VP FPCCI, apprised the top management of SRB that many members of FPCCI are qualified in alternative dispute resolution mechanism; including the incumbent and former office bearers of FPCCI; and, they can offer great support to SRB’s ADRC initiatives.
Khurram Ejaz, Advisor to the President of FPCCI on FBR & revenue matters, said that FPCCI considers SRB as their partners and not as adversaries; because objectives of both the institutions are same – economic development of the province and resolution of all disputes & anomalies pertaining to provincial tax collection.