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No return, no ST: FBR moves against major units

No return, no ST: FBR moves against major units

ISLAMABAD: Awaking to what is described as a serious discrepancy, the Federal Board of Revenue (FBR) moved against units, comprising manufacturers and companies, which despite operation, failed to file monthly returns and pay sales tax during the current month.

The board has prepared a list of all such major units and provided it to the field staff, comprising National Tax Number (NTN) of the unit, Sales Tax Registration Number (STRN), tax status, i.e ‘operative,’ sales tax paid and tax status in January 2014.

As per details, these units have paid due amount of sales tax during July-December 2013-14, but suddenly stopped filing sales tax returns and even failed to deposit any amount of sales tax in January 2014, although they continue business activities. The names of the non-filers of sales tax returns for January 2014 have been communicated to the Regional Tax Office (RTOs) for enforcement and compliance. The FBR has also issued instructions for recovery of due sales tax amount.

The list has been prepared on the basis of analysis of top companies including exporters in all leading sectors to check their sales tax and FED payment trends in 2013-14. The exercise is aimed at pinpointing big taxpayers who are showing negative trend in revenue collection during 2013-14.