Sindh Revenue Board (SRB) initiated a “one-time” incentive scheme for defaulters of provincial sales tax on services. The SRB has notified a tax incentive scheme under which exemptions have been provided from payment of penalties and default surcharge to the taxpayers and defaulters, provided they deposit the principal amount of arrears of the Sindh [...]
Dear Valued Client, Federal Board of Revenue issued SROs 552, 589 and 590, wherein the board has issued exemptions of Sales Tax and Income Tax and custom duties on the import of following items for medical purposes only Oxygen gas Cylinders (for oxygen gas) Cryogenic tanks (for oxygen gas) and Oxygen Concentrators/Generators/ Manufacturing [...]
Please click on the link appended hereunder, wherein a General Order is available, which has been issued by FBR to prescribe Standard Operating Procedures (SOPs) for AJK/Gilgit Baltistan Sales Tax Registered Persons for their enrollment with FBR system to enable them avail the benefit of input adjustments. LINK OF DOCUMENT 2021524165380551SalesTaxgeneralOrder6 Please contact [...]
Please click on the lick below to read the latest FBR initiative wherein the board has launched the software of electronic hearing of tax audit and assessment cases to facilitate the taxpayers. This has been done by enabling and functionalizing the e-Hearings module in the Iris. The module enables online hearing both form the [...]
Dear Valued Client, Sindh Revenue Board has issued information, wherein due Date of payment of Sindh Sales Tax and Filing of Sales Tax Returns / withholding statements for All registered persons including withholding agents IN RESPECT OF tax period April 2021 has been extended as per following: Due Date of e-payment of Sindh Tax: [...]
IMPLEMENTATION OF SECTION 72 OF THE COMPANIES ACT, 2017-CONVERSION OF PHYSICAL SHARES INTO BOOK-ENTRY FORM Background Section 72 of the Companies Act, 2017 (the “Act”) requires every company having share capital to have its shares in book-entry form only, from the date notified by the Commission. Further, every existing company is required to [...]
Dear Valued Client, Punjab Revenue Authority has issued information, wherein due Date of payment of Punjab Sales Tax and Filing of Sales Tax Returns / withholding statements for tax period April 2021 has been extended as per following: Due Date of payment of Punjab Sales Tax and Filing of Sales Tax Returns / [...]
Dear Valued Client, Federal Board of Revenue has issued information, wherein due to holidays of Eid ul Fitr, date of Payment and Submission of Sales Tax and FED return for Tax period April 2021 have been extended as per following: Payment of Sales Tax and FED: May 18, 2021 Submission of Sales [...]
KCO Newsletter March 2021
FBR Circular No. 05 of 2021 of March 26, 2021 Procedure for Issuance of Consumption Certificate for Import of Industrial Inputs by FATA/PATA-Domiciled Industries To implement and enforce the tax-related incentives and benefits extended by the Parliament to residents of FATA/PATA, Circular No. 9 of 2021 dated March 1, 2021, has been issued. The Circular [...]
