KARACHI: The Sindh Revenue Board (SRB) has notified exemption from penalty amount and 95 percent of default surcharge amount payable on the principal amount of outstanding tax arrears in a bid to enhance revenue.
According to a notification issued here, under Section 45 of Sindh Sales Tax on Services Act, 2011, the SRB is pleased to exempt whole of the amount of penalty and 95 percent of amount of the default surcharge, payable on the principal amount of outstanding tax arrears, if the principal tax amount along with five percent of amount of default surcharge are paid in the head of account “B-02384” till April 30, 2014, and the tax returns or the revised tax returns, as the case may be, for the relevant tax periods are also e-filed till May 9, 2014.
“The benefits of exemption under this notification shall, inter alia, also be available in relation to tax arrears payable: (i) Under Sindh Sales Tax Ordinance, 2000 or under Sindh Sales Tax on Services Act, 2011 (ii) by persons who are liable to be registered under section 24 of the Act but were not registered, provided that:
“(a) they get themselves registered with SRB in a prescribed manner till April 30, 2014: and (b) they also e-file their tax returns, for the tax periods from tax period of the commencement of their economic activity of taxable services in tax period March, 2014, during the period from the date of this notification to May 9, 2014;
“Explanation: For the purpose of this sub-paragraph (i), the word “registered” in the case of withholding agents shall mean “e-Signed up” in terms of the Sindh Sales Tax Special Procedure (Withholding) Rules, 2011; (iii) by persons who were registered but were non-filers or null-filers of their tax returns (iv) by persons who were late-registered with SRB and they did not file their tax returns from the date of commencement of their economic activity of taxable services.
The notification shall not apply for the refund or adjustment of any amount of tax or default surcharge or penalty as has been paid before the date of the notification.
