ISLAMABAD: The Federal Board of Revenue (FBR) has asked registered persons to integrate all their outlets with tax machinery’s online system for availing reduced rate of sales tax on transactions of textile and leather articles.
An official statement issued here said that this integration has to be completed by Mar 3 by downloading the software from FBR’s website.
The FBR’s online system is now ready for receiving live sales transactions as specified in rule 150ZEB of Sales Tax Rules 2006. Eligible registered persons can download software and integrate all their already declared outlets with the system in order to regularise the reduced rates already availed. In case of failure, differential amount shall be recoverable.
It is worth mentioning that as many as 75 registered persons are now integrated with FBR and declaring sales of their 2,574 outlets through this system.
Also Read: Only one percent Pakistanis pay taxes: FBR
As per details, FBR has started receiving live transactions of sales of finished textile and leather articles and the eligible persons integrating with FBR or having already done so can now avail reduced rate of six per cent on their sales as announced by the government.
The federal government had notified effective from July 1, 2018 a reduced rate of 6pc for finished articles of textile and leather for those registered persons who are online with FBR’s computerised system, which was made operational by issuing SRO 1360(I)/2018, dated Nov 12, 2018.
The persons volunteering to integrate their systems for availing reduced rate on future supplies and who fulfil conditions in rules can approach respective commissioners for approval. Websites hosted with a registered domain name have also been recognised to be treated as sales made through Point of Sale, added the announcement.
Published in Dawn, February 6th, 2019