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Sindh Revenue Board waives off default surcharge

Sindh Revenue Board waives off default surcharge

KARACHI: In a major relief to tax payers amid COVID-19 lockdown, the Sindh Revenue Board (SRB) on Monday announced to exempt the whole amount of penalty and such of the amount of default surcharge.

According to a notification issued by the SRB, taxpayers can benefit from the package till June 30. The SBR, under section 45 of the Sindh Sales Tax on Services Act, has exempted the whole of the amount of penalty and such of the amount of default surcharge as is in excess of the amount of default surcharge, provided that the principal amount of tax and the following amounts of the default surcharge thereon are deposited in the prescribed manner in the government’s account during the periods as specified:

a-The principal amount of tax (as outstanding on 31st  May, 2020) alongwith zero default surcharge thereon if deposited during the period from lst  June, 2020 to 15th June, 2020.

b-The principal amount of tax (as outstanding on the 31St  May, 2020) alongwith 5% of the amount of default surcharge thereon if deposited during the period from 16th June, 2020 to 22nd  June, 2020.

c- The principal amount of tax (as outstanding on the 315` May, 2020) alongwith 10% of the amount of default surcharge thereon if deposited during the period from 23rd June, 2020 to 30th  June, 2020.

The benefits of exemption of penalty and default surcharge shall also be available in relation to the arrears of the tax (as outstanding on the 31st May, 2020) payable under the Sindh Sales Tax Ordinance, 2000.