KARACHI: The Federal Board of Revenue (FBR) has obtained information of taxpayers registered with the provincial tax authorities for collection of advance tax at three percent, sources said on Monday.
“The information of taxpayers registered for sales tax on services with the provincial government has been obtained from Pakistan Revenue Automation Pvt Limited (PRAL) for recovery of advance tax from noncompliant taxpayers,” an official at the Federal Board of Revenue (FBR) said on the condition of anonymity.
Tax offices have been asked to enhance enforcement efforts, as a nominal amount was received under this head during the first half of the current fiscal year, the official added. For the tax year 2017, a new section has been introduced for tax collection from such non-filers, who are registered with the provincial sales tax authorities.
Under the new law, monthly adjustable advance tax at three percent of the turnover is payable by the FBR non-filer, who is registered with the provincial revenue authority. Advance tax paid is payable at the time when provincial sales tax return is filed.
The requirement to pay advance tax will not be applicable on a person who was filer of the previous tax year. Sources in the FBR said the provincial revenue authorities are withholding agents and they are liable to collect the amount at the time of receiving monthly returns.
Presently, Punjab, Sindh and Khyber-Pakhtunkhwa have their separate revenue authorities for the collection of sales tax on services.The sources said the tax authorities would send notices to the provincial authorities and non-compliant taxpayers for the recovery of advance tax.
A trader can be seen at the Pakistan Stock Exchange building in Karachi. — PPI/FilesKARACHI The Pakistan Stock...
Engro Fertilizers Limited plant can be seen in this undated image. — LinkedIn/Engro Fertilizers Limited KARACHI:...
A representational image of a chemist looking for medicines in his store. — AFP/FileLAHORE: The Pakistan...
This image shows the SRB logo on a wall inside the building. — Facebook/Sindh Revenue Board, Government of...
This image shows the Logo of UBL at the building. — Facebook/UBL - United Bank Ltd/FileKARACHI: United Bank Limited...
IMF headquarters in Washington. — AFP/FileWASHINGTON: The International Monetary Fund urged countries on Wednesday...