ISLAMABAD: Federal Board of Revenue has clarified that the news appearing in a section of the press regarding introduction of a single stage sales tax with a single digit rate of tax through the Finance Bill 2014-15 are without any basis.
It has been further clarified that no proposal for making a fundamental change in the existing manner and stages of collection and rate of sales tax under Sales Tax Act, 1990 is under consideration and the existing scheme of Sales Tax collection will continue even after the budget.
