ISLAMABAD: The Federal Board of Revenue (FBR) has increased the rate of ‘Further Tax’ from three to four percent on supplies made to unregistered persons.

According to a sales tax circular issued by the FBR, the “further tax” is charged on supplies of taxable goods made by a registered person to a person who has not obtained a sales tax registration number or has obtained a registration number but is not an active taxpayer.

Supplies made to unregistered persons: Rate of ‘Further Sales Tax’ increased to 4pc

The said rate of sales tax under sub-section (1A) of section 3 of the Sales Tax Act was previously three percent which has now been enhanced to four percent through the Finance Act, 2023.

Exemption of sales tax under S No 151 and 152 of Table-1 of the Sixth Schedule to the STA on supplies and imports of plant, machinery, equipment etc. and electricity respectively, available to the industrial units located in the jurisdiction of erstwhile FATA/PATA expired on 30.06.2023.

In order to promote and support the industry that has provided employment in said territory, the period of said exemption has been extended till June 30, 2024, the FBR added.

Copyright Business Recorder, 2023

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Tulukan Mairandi Jul 26, 2023 02:20pm
Just round it up to 5%. I'm sure we patriotic Pakistanis wouldn't mind more of our hard earned dough going to the Establishment, that purportedly keeps us safe from India and others, right?
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