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FBR amends sales tax rules to bring more businesses into tax net

FBR amends sales tax rules to bring more businesses into tax net

ISLAMABAD: Federal Board of Revenue (FBR) has amended sales tax rules in order to bring more businesses into the tax net.

The FBR issued SRO 776(I)/2020 to amend Sales Tax Rules, 2006. Through the amendment the FBR explained that null return should be treated as a sales tax return which shows no data related to sales and purchases during a tax period.

Further, the FBR has made mandatory for a business to provide names of all business branches/outlets along with complete addresses etc.

The FBR also made it mandatory that a business owner will provide details of all brands names/trademarks in which dealing. The FBR said that the business owner shall provide details of all business brand names / trademarks etc. in which dealing.