Pakistan News

    Sales Tax Practitioners In Hyderabad

  • Citizens unhappy with hefty increase in Karachi-Hyderabad toll tax

    KARACHI: While the Karachi-Hyderabad motorway is still in the process of completion, authorities have increased the toll tax manifold on the ground that the Superhighway, as it was previously called, has now become a part of the countrywide network of motorways...

    Previously, the toll tax for a car going from Karachi to Hyderabad was Rs30...

  • Auto-part makers seek cut in sales tax

    KARACHI: In its budget proposals, the Pakistan Association of Automotive Parts and Accessories Manufacturers (Paapam) urged the government to reduce sales tax on 800cc cars from 17 per cent to 5pc, stressing that lower car prices will boost sales to 120,000 units from 36,000 units...

    Increase in their sales volume will result in economic growth through Large Scale Manufacturing (LSM) sector expansion, industrialisation and job...

  • Petroleum products contribute 44pc to sales tax collection

    ISLAMABAD: Petroleum pro­ducts were the top revenue spinner of domestic sales tax, contributing around 44 per cent (or Rs233...

    However, sales tax collection was concentrated in few commodities as 10 major items, including POL (petrol, oil and lubricants) and natural gas, shared 73pc of the total domestic sales tax...

  • KCA alarmed over proposed sales tax

    KARACHI: The Karachi Cotton Association (KCA) has expressed concern over government plans to impose sales tax on cotton in budget 2015-16 to mobilise Rs50 billion in revenue...

    He further said that nowhere in the world sales tax is imposed on raw cotton because it inhibits growers from enhancing production and meeting the ever rising demand of raw material by textile industry...

  • PRA brings foreign firms within sales tax ambit

    LAHORE: Bringing foreign companies working on construction projects for the first time within the ambit of Sales Tax on Services Act 2012, the Punjab Revenue Authority has received Rs250 million sales tax from a Chinese firm against the construction of a power plant in Haveli Bahadur Shah near Jhang...

    They said the amount had been received as advance payment from the company as exact volume of sales tax would be calculated at later...

  • Who’s responsible for sales tax liability?

    With more than 45pc share in federal tax receipts, the sales tax is a major source of tax revenue...

    Like value added tax, sales tax is collected on self assessed taxable supplies after allowing adjustment of input tax on purchases...

  • Sales tax stuck in void between null and nil payers

    ISLAMABAD: Only 16 per cent of registered sales tax units in the country actually paid any of the tax, with the rest filing either null or nil returns, data from the Federal Board of Revenue (FBR) shows...

    The number of registered sales taxpayers on the FBR data portal was 127,268 for 2016-17...

  • Sales tax collection from petroleum products falls

    ISLAMABAD: The Federal Board of Revenue witnessed Rs8 billion decline in sales tax collection from petroleum products during the first half of this fiscal year from a year ago because of lower oil prices...

    Official figures, compiled by the FBR, showed that in absolute terms, taxable sales of POL products were Rs16 billion higher than in July-December 2013-14 period...

  • Govt urged to cut sales tax rate

    KARACHI: The government should bring down sales tax rate to single digits and end the culture of SROs (statutory regulatory orders), said speakers at a pre-budget seminar organised by the Karachi Tax Bar Association (KTBA) on Tuesday...

    Tax consultants and tax experts who spoke on the occasion asked the government that instead of focusing only on revenue generation measures in the budget-making exercise, it should offer incentives to...

  • SRB and sales tax

    Notwithstanding the provisions of Section 65(A) of the Sindh Sales Tax on Services Act 2011 which provides for redressal of taxpayers’ grievances through the office of the ombudsman, several other legal remedies are also provided under Sections 55, 57, 61 and 65 of Act-2011 and also under Section 7 of the SRB Act 2010...

    It is pertinent to mention here that the Sindh Sales Tax at the concessionary reduced rate of 5pc is payable in...

  • A rationale for sales tax reforms

    THE tax reform commission is expected to propose a single-digit sales tax on a no-refund, no-adjustment basis in the upcoming federal budget 2015-16...

    The proposal is on an ad-hoc basis, pending full enforcement of the value added tax mode...

  • Govt increases sales tax on petrol, diesel

    ISLAMABAD: The government has increased the general sales tax (GST) rate on high-speed diesel (HSD) and petrol to 40 per cent and 23...

    It was concluded that the Federal Board of Revenue (FBR) still had inherent powers under Sales Tax Act 1990 to change tax rates, notwithstanding the government’s decision to surrender the authority of issuing SROs without the approval of the Economic Coordination Committee of the cabinet or...

  • FPCCI for steep cut in sales tax

    KARACHI: In its proposals for the upcoming budget, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) demanded steep cut in the rate of sales tax – standard 7 per cent, non-adjustable and non-refundable both for local and imported goods...

    The FPCCI stressed that high rate of sales tax is the root cause of tax evasion, corruption, narrow tax base and smuggling...

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