Sindh Revenue Board announces amnesty scheme to waive penalty

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KARACHI: Sindh government has announced a tax incentive package on Thursday allowing exemption from fine and penalty on payment of principal amount and a minimum payment of 5 percent default surcharge.
Sindh Revenue Board (SRB) issued notification allowing exemption from the whole of the amount of penalty and such of the amount of default surcharge provided that principal amount of tax is deposited.
The incentive is provided subject to voluntary payment of principal amount of Sindh Sales Tax on Services along with default surcharge mentioned below:
— 5 percent default surcharge if principal amount deposited between May 19 to May 25, 2017
— 10 percent default surcharge if principal amount deposited between May 26 to June 2, 2017, and
— 20 percent default surcharge if principal amount deposited between June 03 to June 09, 2017.
The benefits of exemption of penalty and default surcharge shall also be available in relation to arrears of the tax (as outstanding on May 19) payable under Sindh Sales Tax Ordinance, 2000 and Sindh Sales Tax Act, 2011.
The amnesty also provides immunity from arrest and prosecution on payment of outstanding amount under this notification.
In cases where no tax liability is outstanding but only the arrears of amounts of penalty and default surcharge are outstanding, the tax incentive package allows the remission of 90 percent of the amount of such penalty and 75 percent of the amount of such default surcharge, if the balance of the amount of penalty and default surcharge is deposited during the period from May 19 to June 09, 2017.
SRB advised all taxpayers, service providers and withholding agents to avail the benefits of the tax incentive package which shall expire at the close of June 09, 2017. The incentive announced through this concession provide an opportunity to taxpayers who, for any reason, have not been able to clear up their tax liabilities, added up by default surcharge or, in some cases, the amount of penalty, over the period involved. This may also help reduce the litigation in cases where the taxpayers have gone to the courts of law seeking relief on default surcharge or penalty.

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