KARACHI: The Federal Boar of Revenue (FBR) and Sindh Revenue Board (SRB) have reached an agreement on the parameters for cross-adjustment and verification of claim of ‘input tax’ in the light of the Memorandum of Understanding signed between the two on March 13, 2014. The understanding was reached after extensive deliberations and meetings between the two revenue authorities. The agreement will facilitate the taxpayers to adjust provincial tax paid on services against their liability of sales tax on goods.
Earlier, FBR Chairman Nisar Mohammad Khan, in response to the difficulties being faced by taxpayers due to change in the definition of ‘input tax’ relating to provincial services, had called for resolving the issue on priority basis.
The FBR team was headed by Nisar Mohammad, Chairman FBR and included Dr. Muhammad Irshad Member (IR Operations), Rehmatullah Khan Wazir Member (Policy), Abdul Hameed Memon, Chief (Automation and Sales Tax), Raza AshIslamabah Secretary IR (LP & E), Muhammad Muti-ur-Rehman Mumtaz Secretary (STM) and Abid Naeem Senior Manager PRAL. On the other side, the SRB team was headed by Alamuddin Bullo, Chairman SRB and included S.M.H. Kazimi Advisor SRB, Muhammad Iqbal Lakho Commissioner SRB, Muhammad Amir Sheikh Deputy Commissioner SRB, Abdullah Soomro Assistant Commissioner SRB and Shaique Jafri Senior Manager PRAL.
