AGL 38.35 Decreased By ▼ -0.21 (-0.54%)
AIRLINK 201.11 Decreased By ▼ -6.66 (-3.21%)
BOP 10.10 Increased By ▲ 0.04 (0.4%)
CNERGY 6.54 Decreased By ▼ -0.54 (-7.63%)
DCL 9.46 Decreased By ▼ -0.53 (-5.31%)
DFML 40.06 Decreased By ▼ -1.08 (-2.63%)
DGKC 97.50 Decreased By ▼ -5.96 (-5.76%)
FCCL 34.75 Decreased By ▼ -1.60 (-4.4%)
FFBL 86.21 Decreased By ▼ -5.38 (-5.87%)
FFL 13.93 Decreased By ▼ -0.67 (-4.59%)
HUBC 131.25 Decreased By ▼ -8.18 (-5.87%)
HUMNL 14.00 Decreased By ▼ -0.10 (-0.71%)
KEL 5.63 Decreased By ▼ -0.34 (-5.7%)
KOSM 7.30 Decreased By ▼ -0.56 (-7.12%)
MLCF 45.30 Decreased By ▼ -1.98 (-4.19%)
NBP 66.38 Decreased By ▼ -7.38 (-10.01%)
OGDC 220.71 Decreased By ▼ -1.95 (-0.88%)
PAEL 38.29 Increased By ▲ 0.18 (0.47%)
PIBTL 8.87 Decreased By ▼ -0.40 (-4.31%)
PPL 198.75 Decreased By ▼ -7.10 (-3.45%)
PRL 38.95 Decreased By ▼ -0.90 (-2.26%)
PTC 25.50 Decreased By ▼ -1.12 (-4.21%)
SEARL 101.30 Decreased By ▼ -8.94 (-8.11%)
TELE 9.05 Decreased By ▼ -0.18 (-1.95%)
TOMCL 36.75 Decreased By ▼ -1.46 (-3.82%)
TPLP 13.75 Decreased By ▼ -0.02 (-0.15%)
TREET 25.25 Decreased By ▼ -1.20 (-4.54%)
TRG 58.10 Decreased By ▼ -2.44 (-4.03%)
UNITY 33.72 Decreased By ▼ -0.42 (-1.23%)
WTL 1.71 Decreased By ▼ -0.17 (-9.04%)
BR100 11,878 Decreased By -420.9 (-3.42%)
BR30 37,336 Decreased By -1541.1 (-3.96%)
KSE100 111,069 Decreased By -3791.9 (-3.3%)
KSE30 34,899 Decreased By -1296.6 (-3.58%)

ISLAMABAD: The Federal Board of Revenue (FBR) has increased the rate of ‘Further Tax’ from three to four percent on supplies made to unregistered persons.

According to a sales tax circular issued by the FBR, the “further tax” is charged on supplies of taxable goods made by a registered person to a person who has not obtained a sales tax registration number or has obtained a registration number but is not an active taxpayer.

Supplies made to unregistered persons: Rate of ‘Further Sales Tax’ increased to 4pc

The said rate of sales tax under sub-section (1A) of section 3 of the Sales Tax Act was previously three percent which has now been enhanced to four percent through the Finance Act, 2023.

Exemption of sales tax under S No 151 and 152 of Table-1 of the Sixth Schedule to the STA on supplies and imports of plant, machinery, equipment etc. and electricity respectively, available to the industrial units located in the jurisdiction of erstwhile FATA/PATA expired on 30.06.2023.

In order to promote and support the industry that has provided employment in said territory, the period of said exemption has been extended till June 30, 2024, the FBR added.

Copyright Business Recorder, 2023

Comments

Comments are closed.

Tulukan Mairandi Jul 26, 2023 02:20pm
Just round it up to 5%. I'm sure we patriotic Pakistanis wouldn't mind more of our hard earned dough going to the Establishment, that purportedly keeps us safe from India and others, right?
thumb_up Recommended (0)