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Tag Archives: Finance Act 2014

Sales Tax (Amendment) Ordinance promulgated to avoid SC order

ISLAMABAD: On the recommendations of the Finance Ministry, the government promulgated Sales Tax (Amendment) Ordinance 2014 in March this year to avoid implementation of the Supreme Court order. The said amendment ordinance amended sub-section (2) of section 3 B of the Sales Tax Act 1990. An official source at Finance Ministry told this scribe here the other day that as ... Read More »

LHC issues stay order on luxury tax

LAHORE: The Lahore High Court has issued injunction or stay order regarding the imposition of luxury tax on big houses. Lahore High Court Justice Shams Mahmood Mirza has restricted the government to collect the luxury tax on the houses which are above two canals area. On hearing the application filed by a local citizen Zain Shahzad, the court asked the ... Read More »

Increase in revenue linked to broadening tax base

KARACHI: The government wants to generate more revenue, but it avoids widening tax base that is said to barely cover 0.30 per cent of the population, said former Karachi Tax Bar Association (KTBA) president Anwar Kashif Mumtaz. He was addressing a seminar by the KTBA on “Finance Act 2014” and attended by tax practitioners and consultants in great number. He ... Read More »

FBR asked to simplify e-filing of sales tax returns

KARACHI: The Karachi Tax Bar Association (KTBA) has urged the Federal Board of Revenue (FBR) to remove certain flaws from the amended tax laws to make e-filing of sales tax returns hassle-free. Taxpayers failed to e-file their returns for July through FBR’s web-portal because of amendments in the Finance Act 2014. The tax bar pointed that it was because some ... Read More »