Taxpayers to pay penalty on failure to provide information

Taxpayers to pay penalty on failure to provide information

A taxpayer, who fails to submit the information required by the Federal Board of Revenue (FBR) under Section 26 of the Sales Tax Act, 1990, shall pay a penalty of Rs10,000.

The Federal Board of Revenue (FBR) issued the Sales Tax Act, 1990 updated up to June 30, 2021. The Act incorporated amendments brought through Finance Act, 2021.

Following is the text of section 33(10) of the Sales Tax Act, 1990:

33. Offences and penalties.– Whoever commits any offence shall, in addition to and not in derogation of any punishment to which he may be liable under any other law, be liable to the penalty mentioned against that offence: –

10. Any person who fails to furnish the information required by the Board through a notification issued under sub-section (5) of section 26.

Such person shall pay a penalty of ten thousand rupees.

(Disclaimer: The text of above section is only for information. Team PkRevenue.com makes all efforts to provide the correct version of the text. However, the team PkRevenue.com is not responsible for any error or omission.)

Leave a Reply

You have to agree to the comment policy.