SRB identifies 8,685 service-providing firms, individuals

In a move to enhance its tax-base, Sindh Revenue Board (SRB) has identified 8,685 service providing companies and individuals which could be come under the umbrella of sales tax on services, Business Recorder learnt on Friday. Official sources inside the SRB told this scribe that Intelligence and Survey Wing of SRB had identified 8,685 service providing companies and individuals of various sectors which could be come under the net of sales tax on services.
The Intelligence and Survey Wing has completed its initial work and provided a list of 8,685 companies and individuals of various taxable sectors to the Operation Wing of SRB as they can start further process in order to get them under the umbrella of sales tax on services.
According to the list available with Business Recorder that Intelligence and Survey Wing has identified 240 service providing companies and individuals in the sectors of telecommunication and franchise, 213 companies in advertisement, 99 companies in courier, 16 in banks, 33 companies in insurance, 18 in non-banking, two in investment banks and 12 in investment advisory.
List added that Intelligence and Survey Wing identified one in Foreign Exchange, 46 in stock brokers, five in Modarba, 12 in brokerage, 514 in hotels, 2,629 in restaurants and cafes, 53 in clubs, 495 in caterers, 54 in terminal operators, 1,142 in Custom Agents, 41 in stevedores, 337 in construction and 961 in property developers/builders. List further mentioned that Intelligence and Survey Wing identified 691 service providing companies and individuals in the field of contractual execution, 338 in freight forwarders, 107 in ship chandeliers, 404 shipping agents, 75 CA's and audit sector, 76 contractors, 31 guesthouses and 68 forex dealers.
In this connection, Sardar Abdul Nabi Thaheem, Commissioner Intelligence and Survey Wing told Business Recorder that I&S Wing had identified 8,685 service providing companies and individuals from the data provided by PRAL, FBR, E&T and EOBI. The field team of Intelligence and Survey Wing had also identified a large number of companies and individuals of various sectors included in the same list, he said. He said that many companies and individuals had also been identified through the information collected from internet searching and newspapers as well. He said that list had been forwarded to the Operation Wing of SRB, while notices would be issued all of them as they could be come under tax-net of provincial tax-collection-body.
It may be noted here that SRB had got a list of 4,309 taxpaying companies and individuals from the FBR concerned officials in the beginning days. The list was carrying the names of companies and individuals of various sectors including telecommunication, hotels, restaurants, marriage halls, lawns clubs and caterers, advertisements, courier, services provided or rendered by persons engaged in contractual execution work or furnishing supplies, banking, insurance, co-operative financing societies, modarabas, musharikas, leasing companies, foreign exchange dealers, non banking financial institutions, services provided or rendered by specified persons or businesses, stockbrokers, money exchangers, franchise, construction and services provided by terminal operators except terminal fee charges, sources told. With addition of 8,685 service providing companies and individuals, the SRB's collection would be improved and more money would come in the kitty of provincial government, sources concluded.