Promulgation of Provincial Value-Added Tax (VAT) Act: FBR mandated to publish list of registered taxpayers

The government has made it mandatory for the Federal Board of Revenue (FBR) to publish the list of registered taxpayers after promulgation of Provincial Value-Added Tax (VAT) Act, 2010 from July 1, 2010. Sources told Business Recorder here on Tuesday that the Provincial VAT Act 2010 would have to identify certain taxpayers treated as suspended immediately.
In this regard, the provinces would publish list of persons, within the supply chain, who would be registered for VAT purposes. A provision of 'Provincial VAT Act 2010' said, "Certain taxpayers immediately treated as suspended: The board shall, on the day this Act comes into force, publish a list of persons registered for VAT".
As far as registration threshold is concerned, Provincial VAT Act 2010 states that a person who becomes registered may apply for cancellation of registration and if the Board is satisfied that the person does not exceed the registration threshold, the Board shall cancel the person's registration.
In case of persons already registered under the Sales Tax Act, Provincial VAT Act stated 'where, on the day immediately preceding the day on which Provincial VAT Act 2010 comes into force, the registration of person under Sales Tax Act shall be deemed to have been effected under Provincial VAT Act.
The registered office of the person under Sales Tax Act shall be deemed to be the registered office of the person under Provincial VAT Act'. The Provincial VAT Act has issued a new procedure for adjustment for input tax. Where, on the day this Act comes into force, a person who was registered under the Sales Tax Act becomes registered.
The person may claim a decreasing adjustment in relation to any amounts that were input tax, if the input tax was incurred on goods or services purchased or imported by the person no more than twelve month prior to the day on which this Act comes into force.
Secondly, the person has not previously deducted that input tax, or part of that input tax. Thirdly, the person acquired the goods or services on which the input tax was incurred for what would have been a creditable purpose had this Act been in force at the time of the acquisition.