Sindh Revenue Board (SRB) has asked the members of Karachi Stock Exchange (KSE) and other service providers related to share trading to enrol with the Sindh government-run tax collection body.
Official sources in SRB told Business Recorder on Thursday that Member SRB (Operations) Akhtar Jamil Khan had written a letter to Management of KSE in which it was stated that pursuant to the enactment of Sindh Sales tax on Services 2011, from 1st July 2011, the service providers rendering taxable services in Sindh were required to e-enrol with SRB on its portal (http://e.srb.gos.pk).
The letter further stated that all service providers related to share trading were required to file sales tax returns as per Sindh Sales tax Act 2011, and Sindh Sales Tax rules 2011, with the SRB. The letter also said that all service providers should pay their sales tax dues through National Bank of Pakistan (NBP) and State Bank of Pakistan (SBP) authorised branches through account Head "Sindh Sales Tax on Services B-02382".
According to the letter, the first step for service providers in Sindh is to enrol themselves with the SRB. Accordingly, for "e-registration" with SRB all service providers initiating, providing, rendering, receiving, or consuming services in or from the geographical jurisdiction of Sindh are requested to visit (http://e.srb.gos.pk) immediately for swift e-enrolment process or to contact any SRB office during office timings.
Following the receipt of the said letter, the management of KSE has circulated this letter to all members and others related to KSE, sources said. Earlier, a delegation of KSE visited the office of SRB, located at Shaheen Complex, and met with all the team members. During that meeting, all the participants also discussed the issues related to SToS in detail, sources said.
The KSE delegation comprising high-level management assured the SRB officials that all the members and other service providers related to share trading would enrol themselves with SRB and they would file their returns with SRB as well, sources added.