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: Pakistan has allowed tax-free import of fruits from Afghanistan and in this regard, a sales tax notification is issued on Monday. The Federal Board of Revenue (FBR) issued SRO 1501(I)/2021 to implement the decision of the government to allow tax-free import of fruits. The FBR said that the federal government is pleased to exempt […]
ISLAMABAD: Federal Board of Revenue (FBR) has imposed extra sales tax up to 17 per cent on unregistered industrial and commercial connection holders of electricity and gas utilities. However, this levy is applicable to consumers who are not sales tax registered persons or not appearing on the Active Taxpayers List (ATL). The FBR issued SRO […]
ISLAMABAD: The Federal Board of Revenue (FBR) has decided to allow a single vehicle owner to transport goods under transshipment rules. In this connection, the FBR issued SRO 1129(I)/2021 on Friday to notify draft rules. The tax authorities proposed an amendment to Customs Rules, 2001. A new rule 328A has been proposed for allowing a […]
ISLAMABAD: The Federal Board of Revenue (FBR) on Tuesday authorized Inland Revenue Enforcement Network (IREN) to petrol the retail outlets to check sales tax evasion. The FBR issued SRO 1063(I)/2021 to amend Sales Tax Rules, 2006. Through the rules, the FBR established IREN and authorized the body to check and verify any of the eventualities. […]
ISLAMABAD: The Federal Board of Revenue (FBR) on Tuesday issued procedure for claiming input tax credit against supplies made by the persons registered in Azad Jammu and Kashmir (AJK) and Gilgit Baltistan (GB). The input tax credit against invoices issued by persons registered under sales tax law of Azad Jammu and Kashmir and Gilgit Baltistan […]
ISLAMABAD: The Federal Board of Revenue (FBR) on Wednesday said it has increased minimum prices of steel products for collection of sales tax. In a statement, the revenue body said that the minimum prices of steel products had been increased in the wake of increased prices of steel products in the domestic and international markets. […]
ISLAMABAD: Federal Board of Revenue (FBR) on Monday launched prize scheme for customers of retailers, who integrated their sales through Point of Sales (POS) with the tax system. The FBR issued SRO 1005(I)/2021 for launching the prize scheme for customers of tier-1 retailers, who have integrated their retail outlets with the FBR computerized system for […]
ISLAMABAD: The Federal Board of Revenue (FBR) on Wednesday issued valuation of locally produced steel products for collection of sales tax. The FBR fixed the valuation by issuing SRO 985(I)/2021 for locally produced steel products. The revenue body fixed the values of steel products for the purpose of payment of sales tax on ad valorem […]
ISLAMABAD: An amount of Rs64.2 billion has been granted as waiver to only 37 enterprises, including the State Bank of Pakistan (SBP), Dr. Ikramul Haq, Advocate Supreme Court said on Monday. He was addressing a webinar hosted by Pakistan Institute of Development Economics on the topic of ‘Impact of SROs on Pakistan Economy’. Further highlighting […]