Harmonizing the sales tax
The 18th Amendment to the constitution had a profound impact on the legal and political framework of the country. Among other measures leading to the long-awaited provincial autonomy, the amendment…
The 18th Amendment to the constitution had a profound impact on the legal and political framework of the country. Among other measures leading to the long-awaited provincial autonomy, the amendment…
Over the last twelve months it has been clearly demonstrated that our exports can grow provided we are given a “level playing field” to compete with our competitors. When the…
During my tenure as Chairman, Federal Board of Revenue (FBR) one major change which was brought in was the abolition of zero rating of sales tax for five export-oriented sectors.…
Since the 1st of July this year, an across the board sales tax of 17% has been imposed on most manufactured items. The exports which are “zero rated" all over…
The imposition of 7.5% sales tax on restaurants through the Finance Act 2019 by the National Assembly, energetically defended by the Chairman of Federal Board of Revenue (FBR), is patently…
Tax is a charge on persons, entities or property by an authority in the relevant scenario. Purpose is to raise funds from its subjects. The term 'tax' embraces levies by…
Domestic taxes like sales tax are record-based taxes, and the record maintenance pertaining to their production, sales and storage has been prescribed under the law. The Sales Tax Act, 1990…
There is another psychological reason in the public behind lack of incentives, non-compliance and/or non-serious approach towards tax payments. It is an old grievance of the general public that the…
Section 38 of the Sales Tax Act, 1990 did authorise an officer of Sales Tax to have an access to the premises, stocks, accounts and records in respect of an…
During 2003-2007, one tax official used different techniques to issue illegal refunds in several cases without any check by any agency. It was found that the accused official during his…