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sales tax

FBR finalises plan to collect 6000b sales tax from defaulters  

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FBR

ISLAMABAD: Federal Board of Revenue (FBR) has decided to take strict action against tax defaulters and short filers through its staff under the National Transformation Plan approved by Prime Minister Shahbaz Sharif.

This initiative will collect more sales tax of Rs 3500 billion. The car door will have FBR logo and central control room at headquarters will be responsible for tracking every vehicle.

According to FBR, a plan has been made for annual tax collection of Rs 6000 billion. There are 260,000 manufacturers out of which only 42000 registered in the sales tax regime. The auditors, superintendents and up to grade 18 of customs/IR service officers will perform operational duties against tax evaders .

In order to meet the tax of more than Rs 13000 billion for the current financial year, FBR will stop the evasion of income tax, federal excise duty, sales tax and customs duty.

Member FBR Saeed Akram while giving the latest FBR statistics, said that despite the approval of 1,010 vehicles of 1300 cc, vehicles of 1199 cc are being given. The letter of intent from the vehicle manufacturer states that these 1,010 new vehicles will be for the Inland Revenue Service and Customs Service.

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Mobile Prices Surged in Pakistan As FBR Imposes 25% Sales Tax!

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Mobile Prices Surged in Pakistan As FBR Imposes 25% Sales Tax!

Prices for high-end mobile phones are expected to rise due to new changes in the sales tax. A 25% sales tax will be applied to imported mobile phones in CBU condition valued over $500. Imported CBU phones valued at or below $500 will face an 18% sales tax. KARACHI – Prices for high-end mobile phones … Read more

Sindh Reduces Sales Tax for Card Payments Amid General Tax Increase

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Sindh Reduces Sales Tax for Card Payments Amid General Tax Increase

The Sindh government has announced a substantial sales tax increase for various sectors, effective July 1, to boost revenue for the 2024-25 fiscal year. The sales tax rate has been raised from 13% to 15%, affecting restaurants, cafes, bakeries, marriage halls, hotels, guest houses, farmhouses, cleaners, and other businesses. However, there is a benefit for … Read more

18% GST to be imposed on packaged food items: FBR

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FBR

ISLAMABAD:  Chairman Federal Board of Revenue (FBR) Amjad Zubair Tiwana has said that 18 percent general sales tax will be imposed on processing and packaged flour, pulses, rice, sugar and spices from the next financial year.

A meeting of the Senate Standing Committee was held under the chairmanship of Chairman Committee Saleem Mandviwala, in which Chairman FBR and Industry Representative Sheikh Waqar Ahmed participated.

In the meeting of the standing committee, the proposal to impose 18 percent sales tax on locally produced baby milk was considered, while the industry representative Sheikh Waqar said that the sales tax should be increased gradually.

Chairman FBR Amjad Zubair said that milk companies have increased the prices of their products several times during 2 years, milk companies have increased the burden on consumers but are not ready to give anything to the government.

The distributors are also not in the tax net, zero rating has been completely abolished from the next financial year.

Chairman FBR further said that imported milk is being sold at twice the price of local milk, from the next financial year, 18 percent sales tax will be levied on processed and packaged flour, pulses, rice, sugar and spices.

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Govt ends exemptions, proposes 18% sales tax

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ISLAMABAD: The federal government has proposed eliminating sales tax exemptions and concessions on various items, including mobile phones, copper, coal, paper, and plastic scrap. In his budget speech to the National Assembly, Finance Minister Muhammad Aurangzeb proposed a standard sales tax rate of 18 percent on these items. The government also suggested increasing import duties … Read more

Local Car Prices May Rise in Pakistan Due to Potential Sales Tax

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Local Car Prices May Rise in Pakistan Due to Potential Sales Tax

The ECC approved a proposal to raise the sales tax on locally made vehicles. The decision was made during a meeting led by Federal Minister for Finance,. The ECC standardized the criteria for implementing a higher 25% sales tax rate. The Economic Coordination Committee (ECC) of the Cabinet has approved a proposal from the Federal … Read more

LHC seeks replies on collecting sales tax from electricity bills

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sales tax

LAHORE: Lahore High Court (LHC) on Wednesday heard a petition against the collection of General Sales Tax (GST) in electricity bills. Justice Shujaat Ali Khan heard a petition by a citizen Nasir Salman against collecting GST through electricity bills. The court issued a notice to other respondents including the Federal Bureau of Revenue (FBR) and … Read more

LHC stops collection of fixed sales tax from lawyers

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LHC sales tax

RAWALPINDI: The Lahore High Court (LHC) has barred the collection of Rs 6,000 fixed monthly General Sales Tax (GST) in the electricity bills from lawyers. The LHC Rawalpindi bench heard the matter on the petition filed by Lahore High Court Rawalpindi Bar Association over the collection of sales tax from lawyer’s chambers. Justice Tariq Saleem … Read more

Traders approach court against collecting sales tax through bills

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sales tax

KARACHI: The Anjuman-e-Tajiran Sindh has approached the Sindh High Court against the levying of retail sales tax through electricity bills. The petition filed by Anjuman-e-Tajiran Sindh President Javed Shams will be heard tomorrow. It stated the implementation of sales tax included in the federal budget 2022-23. It said taxes were not applicable on small traders … Read more

Businessmen oppose sales tax on seed industry

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seed industry

LAHORE: The unjustified move of levying sales tax on the seed industry will negatively impact crop yield by slowing down the process of hybridisation, businessmen said in a statement. “The levy of 17 per cent general sales tax (GST) on locally produced or imported seed coupled with 3 per cent additional tax on unregistered seed … Read more

FBR massively cuts sales tax on petroleum products

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fbr

KARACHI: The Federal Board of Revenue (FBR) on Thursday announced a massive cut in the sales tax rates on all petroleum products to lower the consumer price at retail outlets. The FBR issued SRO 183 (I)/2022 to make changes in the sales tax rates on the supply of petroleum products. Previously, the FBR issued SRO … Read more

Sales tax may ‘increase solar panel rates’ in Pakistan by 30%

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sales tax

KARACHI: The imposition of sales tax on the import of solar panels in Pakistan would increase their price by about 30 per cent, Arab News quoted dealers and importers as saying on Wednesday. It would also make it difficult to add clean power to the country’s energy mix in the coming years, they added. Pakistan levied sales … Read more

KTBA highlights problems in filing sales tax return forms

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tax

KARACHI: The tax practitioners have pointed out towards glitches in single sales tax portal hampering the filing of monthly returns. The Karachi Tax Bar Association (KTBA) in a letter to the chairman of the Federal Board of Revenue (FBR) apprised him about the serious difficulties being faced by the taxpayers on the National Single Tax … Read more

Pakistan Poultry Association seeks reduction in taxes

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Poultry

KARACHI: The proposed taxes on poultry products will undo all the efforts put in by the industry to reduce and eliminate malnutrition, a statement said on Wednesday. The Pakistan Poultry Association (PPA) patron-in-chief Kalil Sattar proposed a comprehensive plan to eliminate malnutrition, under-nourishment, stunting and wasting in children, it added. The World Food Programme estimates … Read more

CTO Karachi launches crackdown against sales tax evaders

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CTO

KARACHI: The Corporate Tax Office (CTO) Karachi has launched a crackdown against individuals and companies involved in the sales tax evasion, sources said on Thursday. The CTO Karachi is a major revenue collection arm of the Federal Board of Revenue (FBR) and has jurisdiction over corporate retail entities operating under various sectors. In its ongoing … Read more

LTO Karachi’s collection grows 53% in five months

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LTO

The Large Taxpayers Office (LTO), Karachi has registered a sharp increase of 53 per cent during the first five months (July-November) of the fiscal year 2021/22, owing to a significant rise in the collection of both direct and indirect taxes. According to the official numbers made available to BOL News, the net collection of the … Read more

LTO Karachi registers 53% increase in July-November collection

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LTO

KARACHI: The Large Taxpayers Office (LTO), Karachi has registered a sharp increase of 53 per cent during the first five months (July-November) of the fiscal year 2021/22, owing to a significant rise in the collection of both direct and indirect taxes. According to the official numbers made available to BOL News, the net collection of the … Read more

Prices of imported mobile phones likely to go up

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mobile phones

KARACHI: The Federal Board of Revenue (FBR) plans to replace the fixed sales tax regime with the normal regime on import of mobile phones, which will generate sizeable revenue for the government and encourage the sale of locally-manufactured mobile phones, sources said on Wednesday. To apply the normal sales tax regime at 17 per cent, … Read more

Duty-free imports surge 67% in four months

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Duty-free imports

KARACHI: The duty-free imports have registered a growth of 67 per cent during the first four months (July-October) 2021 in the wake of a surge in the total import bill. According to official data, the pace of clearance of duty-free imports is more than the clearance of total imports at the Customs stage. The Customs … Read more

FBR exempts sales tax on Afghan fruits

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Afghan fruits

KARACHI: The Federal Board of Revenue (FBR) on Monday exempted the sales tax on the import of fruits from Afghanistan. In this regard, the revenue board issued an SRO 1501 (I)/2021 to implement the decision. According to the notification, the government has decided to exempt the whole sales tax on the import of edible fruits … Read more

Govt revises sales tax on petroleum products

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Govt not getting sales tax on petroleum products: Spokesperson

ISLAMABAD: The federal government has revised the sales tax rates on petroleum products to provide relief to the masses against a sharp rise in the prices of oil in the international market. According to the statement issued on Saturday, the sales tax rate on petrol has been slashed to 1.43 per cent while the sales … Read more

FBR reduces sales tax on petrol to nominal 1.43%

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Govt not getting sales tax on petroleum products: Spokesperson

KARACHI: The Federal Board of Revenue (FBR) has reduced the sales tax on petrol to a nominal 1.43 per cent effective from November 11, 2021. The sales tax rate has been reduced from 6.84 per cent to provide relief to the masses against a sharp rise in the prices of petroleum products in the international … Read more

Provinces collect Rs294 billion as sales tax on services in FY21

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sales tax

KARACHI: The provinces have collected Rs294 billion as sales tax on services during the fiscal year 2020/21, showing a growth of 26.18 per cent over the previous year. All the four provinces collected Rs233 billion as sales tax on services during the fiscal year 2019/20, according to the statistics released by the Finance Ministry on … Read more

POS customers to pay Re1 for each invoice: FBR

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KARACHI: The tax authorities, to the surprise of the customers, has made it mandatory to pay Re1 on each invoice obtained against the purchase through the Point of Sale (POS) machines installed by the Tier-1 retailers. Obtaining a POS invoice and getting verified is necessary for a customer to qualify a prize scheme announced by … Read more

Corporate tax office seals three retail outlets in Karachi

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Corporate tax office

KARACHI: The Corporate Tax Office (CTO) Karachi has sealed three business outlets for non-compliance to integrate with the Point of Sale (POS) system of the Federal Board of Revenue, a statement said. The Corporate Tax Office Karachi sealed three businesses, including Salam’s and Sons; Kurta Corner; and Bin Dawood for no-compliance to integrate with the … Read more

FBR formally launches export facilitation scheme

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Corporate tax office

KARACHI: The Federal Board of Revenue (FBR) on Friday formally launched the Export Facilitation Scheme 2021. The FBR issued an SRO 957(I)/2021 to implement the provisions for facilitating exports from Pakistan. Previously, the tax body issued draft law on July 9, 2021, inviting feedback from the stakeholders. According to the latest SRO, the scheme would … Read more

Sindh Revenue Board extends returns filing date

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SRB

KARACHI: The Sindh Revenue Board (SRB) has extended the last date for the payment and filing sales tax returns for June 2021. In a circular issued on Monday, the provincial revenue board said the sales tax for June 2021 can be paid on or before Tuesday, July 27, 2021. Similarly, the SRB allowed the taxpayers … Read more

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