Tag: sales tax

FBR establishes RSTMC to identify fake and flying invoices

Federal Board of Revenue (FBR) has established Regional Sales Tax Monitoring Cell (RSTMC) to identify the cases involved in fake and flying invoices, fake transactions...

Textile sector in dire straits

The textile sector is on the verge of complete standstill due to the worst-ever financial crisis emanating from the imposition of the 17% sales tax,...

FBR issues ‘Sales Tax Order’ regarding provision of NIC

Buyer to fulfil the requirements of reporting NTN/NIC of the buyer in terms of Section 23 of the Sales Tax Act, 1990 Inclusive of...

FBR works out plan to increase ST registrations upto 0.4mn in 3 years

ISLAMABAD: The Federal Board of Revenue (FBR) Tuesday set the target to mount Sales  Tax Registration (STN) upto 400,000 people in next three years to...

Sales tax to be recovered only if supplier is registered

ISLAMABAD: Federal Board of Revenue (FBR) in its circular issued here has clarified that sales tax can only be recovered from the customer if the...

Implementation on Sales Tax, Federal Excise Budgetary leave Commercial importers in panic

KARACHI: A large number of consignments of commercial importer are struck at port as government included finished articles in Third Scheduled of Sales Tax Act,

Salient features of Sales Tax, FED

ISLAMABAD: Following are Salient Features of Sales Tax and Federal Excise Budgetary Measures proposed for fiscal year 2019-20 by the government on Tuesday. - Withdrawal of...

Japan vows to raise sales tax as record budget passes parliament

TOKYO: Japanese policymakers vowed on Wednesday to raise the sales tax to 10 percent as planned in October, following the passage in parliament of the...

Japan eyes tax breaks for car buyers to offset impact of sales tax hike

TOKYO: Japan will consider tax breaks for car buyers and other measures to cushion the economic impact from an increase in the national sales tax...

FBR slashes sales tax on imported textile, leather

The Federal Board of Revenue (FBR) has notified reduction in sales tax rate on import of finished goods of textile and leather. A notification SRO1070 was...