Daily Archives: May 1, 2017

Budget Proposals 2017/2018: Sales Tax should be charged at time of delivery

KTBA

KARACHI: Tax practitioners have urged the Federal Board of Revenue (FBR) that sales tax should be charged at the time of delivery instead of advance payment basis.

Budget Proposals 2017/2018: Time limit for claiming input tax should be increased to 12 months

KTBA

KARACHI: Federal Board of Revenue (FBR) has been urged that the time period for claiming input tax should be increased to 12 months from existing limit of six months.

Budget Proposals 2017/2018: KTBA urges sales tax recovery should not be made within 30 days of order

KTBA

KARACHI: Karachi Tax Bar Association (KTBA) has urged the Federal Board of Revenue (FBR) to amend sales tax rules regarding recovery, which should not be made within 30 days from date of receipt of order.

Budget Proposals 2017/2018: KTBA recommends only single sales tax audit

KTBA

KARACHI: Federal Board of Revenue (FBR) has been recommended that there should only be single comprehensive sales tax audit in a year.

Budget Proposals 2017/2018: FBR urged to adjust sales tax refund against income tax liabilities

KTBA

KARACHI: Federal Board of Revenue (FBR) has been urged to adjust sales tax refunds against income tax liabilities.

Sales tax on petrol increased by 29 percent

fbr

KARACHI: The sales tax rate on petrol has been increased by 29 percent in order to raise revenue collection during the last two months of current fiscal year.