KARACHI: The Federal Board of Revenue (FBR) has asked the Inland Revenue officials to submit budget proposals on Sales Tax Act.
In this regard, a letter has been sent to Director General, Training and Research/ Inland Revenue Islamabad, Director General, Intelligence and Investigation Inland Revenue Islamabad, Director General, Inspection and Internal Audit Inland Revenue Islamabad, Chief Commissioner, Large Taxpayers Unit Karachi/ Lahore/ Islamabad, Chief Commissioner, Regional Tax Office RTO Karachi/ Lahore/ Peshawar/ Quetta/Abbotabad/ Hyderabad/ Islamabad/ Rawalpindi/ Multan/ Faisalabad/ Gujranwala/ Sialkot/ Sukkur so that proposals could be discussed and implemented.
It has been directed that the budget proposals must focus sales tax on broad parameters. The proposals should focus on broadening the tax base and increase in revenue. Amendments may be suggested in any of the following law/rules etc including Sales Tax Act, 1990, Sales Tax Rules, 2006, Sales Tax Special Procedure Rules, 2007, Sales Tax Special Procedure (Withholding) Rules, 2007, Sales Tax Notifications/Circulars/General Order/Clarifications/Rules.
The amendments may be suggested with a view to achieve simplification, remove difficulties and anomalies, and to abolish any outdated/obsolete provision.
The FBR would specially welcome proposals for eliminating tax fraud, fake and flying invoices, plugging loopholes if any, facilitating genuine taxpayers and making the procedures transparent.
The proposals should be made keeping in view the consequences for the other related trade groups which might adversely affected by the proposed measures.
It is requested that the requisite proposals may kindly be sent to the Board as soon as possible, latest by March 2, 2016.
