The Federal Board of Revenue (FBR) has issued a total of 212 statutory regulatory orders (SROs) of income tax, sales tax, Federal Excise Duty (FED) and customs duty during 2015-16 and 2014-15. According to the data compiled by the FBR on SROs, the income tax SROs stood at 97, sales tax 53 SROs, FED 11 SROs and customs duty SROs totaled at 51 during the period of 2015-16 and 2014-15.
Income tax SROs issued during this period included SRO482(1)/2015(Draft rules for mode and manner of disposal of Bonus Shares); SRO 267(1)/2015 (Amendment in Income Tax Rules, 2002 validity of Active Taxpayer List Published for financial year 2013-14 has been extended up to 10th April, 2015: Active Taxpayer's list for financial year 2014-15 to be published by 11th April, 2015.); SRO 248(1)/2015 (Amendment in Second Schedule of Income Tax Ordinance, 2001); SRO 235(1)/2015 (Amendment in Second Schedule of Income Tax Ordinance, 2001); SRO 176(1)/2015 (Amendment in Income Tax Rules, 2002. Validity of Active Taxpayers List published for financial year 2013-14 has been extended upto 20th March, 2015. Active Taxpayers List for Financial year 2014-15 to be published by 21st March, 2015.); SRO 161(1)/2015 (Amendments in Income Tax Rules, 2002 for the computation of Capital Gain Tax under 8th Schedule to the Income Tax Ordinance, 2001 in respect of Foreign Institutional Investors etc); SRO 136(1)/2015 (SRO 136(1)/2015 issued increasing withholding tax rates for Non- Filers in respect of imports and services under sections 148 and 153 (1)(b) respectively); SRO 115(l)/2015 (Federal Board of Revenue is pleased to confer upon the officers of the Directorate General (Intelligence and Investigation), Inland Revenue); SRO 30(1)/2015 (Notification (Income Tax) S.R.O 30(1)/2015 Dated 14.01.2015); SRO 1034(1)/2014 (Exemption from penalty and Default Surcharge if Return for Tax Year 2014 is filed by 05-12-2014); SRO 1021(1)/2014 (The following draft of certain further amendments in the Income Tax Rules, 2002, which the Federal Board of Revenue proposes to make is hereby published for the information of all persons likely to be affected thereby, and notice is hereby given that the draft will be taken into consideration by the Federal Board of Revenue after seven days of its publication in the official Gazette) and other income tax SROs included SRO 963(I)/2014, SRO 819(I)/2014, SRO 817 (I)/2014, SRO 765 (I)/2014, SRO 717(I)/2014, SRO 716 (I)/2014, SRO 698(I)/2014, SRO 699(I)/2014, SRO 686(I)/2014 and SRO 618 (I)/2014.
Other income tax related SROs also included SRO 754(I)/2016, SRO 753(I)/2016, SRO 756(I)/2016 and SRO 735(I)/2016. The rates of valaution of immovable properties were notified through SRO 683(I)/2016, SRO 678(I)/2016, SRO 679(I)/2016, SRO 680(I)/2016, SRO 681(I)/2016, SRO 682(I)/2016, SRO 663(I)/2016, SRO 664(I)/2016, SRO 662(I)/2016, SRO 665(I)/2016, SRO 666(I)/2016, SRO 667(I)/2016, SRO 668(I)/2016, SRO 669(I)/2016, SRO 670(I)/2016, SRO 671(I)/2016, SRO 672(I)/2016, SRO 673(I)/2016, SRO 674(I)/2016, SRO 675(I)/2016, SRO 676(I)/2016 and SRO 677(I)/2016.
The income tax SROs also included SRO 720(I)/2016, SRO 497(I)/2016, SRO 494(I)/2016, SRO 472(I)/2016, SRO 466(I)/2016, SRO 407(I)/2016, SRO 398(I)/2016, SRO 370(I)/2016, SRO 286(I)/2016, SRO 251(I)/2016, SRO 216(I)/2016, SRO 194(I)/2016, SRO 169(I)/2016, SRO 131(I)/2016, SRO 72(I)/2016, SRO 52(I)/2016, SRO 31(I)/2016, SRO 1329(I)/2015, SRO 1322(I)/2015, SRO 1218(I)/2015, SRO 1182(I)/2015, SRO 1191(I)/2015, SRO 1135(I)/2015, SRO 1092(I)/2015, SRO 1076(I)/2015, SRO 1056(I)/2015, SRO 986(I)/2015, SRO 964(I)/2015, SRO 957(I)/2015, SRO 958(I)/2015, SRO 941(I)/2015, SRO 913(I)/2015, SRO 890(I)/2015, SRO 891(I)/2015, SRO 871(I)/2015, SRO 850(I)/2015, SRO 841(I)/2015, SRO ---(I)/2015, SRO 831(I)/2015, SRO 791(I)/2015, SRO 772(I)/2015, SRO ---(I)/2015, SRO 498(I)/2015, SRO 497(I)/2015, SRO 496(I)/2015 and SRO --(I)/2015.
Sales tax SROs included change in sales tax rates on petroleum products, amendment in sales tax on export oriented sectors, registration process, rules for selection of cases for audit, special procedure for adjustment of sales tax on fertilizers and jurisidiction of LTU-II Karachi etc. These SROs included SRO 490(I)/2016, SRO 492(I)/2016, SRO 487(I)/2016, SRO 488(I)/2016, SRO 489(I)/2016, SRO 491(I)/2016, SRO 471(I)/2016, SRO 369(I)/2016, SRO 268(I)/2016, SRO 252(I)/2016, SRO 227(I)/2016, SRO 57(I)/2016, SRO 54(I)/2016, SRO 1326(I)/2015, SRO 1198(I)/2015, SRO 1180(I)/2015, SRO 1070(I)/2015, SRO 962(I)/2015, SRO 963(I)/2015, SRO 874(I)/2015, SRO 837(I)/2015, SRO 719(I)/2015, SRO 720(I)/2015, SRO 738(I)/2015, SRO 483(I)/2015, SRO 484(I)/2015, SRO 485(I)/2015, SRO 486(I)/2015, SRO 487(I)/2015, SRO 488(I)/2015, SRO 489(I)/2015, SRO 491(I)/2015, SRO 492(I)/2015, SRO 493(I)/2015, SRO 494(I)/2015, SRO 600(I)/2015, SRO 479(I)/2015, SRO 470(I)/2015, SRO 398(I)/2015, SRO 383(I)/2015, SRO 255(I)/2015, SRO 188(I)/2015, SRO 175(I)/2015, SRO 116(I)/2015, SRO 117(I)/2015, SRO 83(I)/2015, SRO 84(I)/2015, SRO 85(I)/2015, SRO 1152(I)/2014, SRO 1028(I)/2014, SRO 727(I)/2014, SRO 718(I)/2014 and SRO 608(I)/2014.
Federal excise SROs included enhanced rates of FED on cigarettes and other notifications. FED SROs incldued SRO 486(I)/2016, SRO 473(I)/2016, SRO 253(I)/2016, SRO 55(I)/2016, SRO 1181(I)/2015, SRO 495(I)/2015, SRO 490(I)/2015, SRO 481(I)/2015, SRO 478(I)/2015, SRO 117(I)/2015 and SRO 574(I)/2014.
Customs related SRO issued during 2014-15 included two procedural SROs ie SRO 428(I)/2015, SRO 609(I)/2015. The concessins/ exemptions SROs included SRO 268(I)/2015, SRO 337(I)/2015, SRO 606(I)/2015, SRO 610(I)/2015. Free/ preferrential trade agreements included SRO 631(I)/2014 during 2014-15. Regeulatory duty related SROs during this period included SRO 1015(I)/2014, SRO 1043(I)/2014, SRO 18(I)/2015, SRO 121(I)/2015, SRO 131(I)/2015, SRO 132(I)/2015, SRO 246(I)/2015, SRO 254(I)/2015, SRO 392(I)/2015, SRO 393(I)/2015, SRO 601(I)/2015, SRO 602(I)/2015, SRO 603(I)/2015, SRO 604(I)/2015 and SRO 605(I)/2015.
Miscellaneous SROs included SRO 607(I)/2015, SRO 608(I)/2015. During 2015-16, customs related procedural SROs included amendments in the Customs Rules. Procedural SROs included SRO 661(I)/2015, SRO 794(I)/2015, SRO 840(I)/2015, SRO 1109(I)/2015, SRO 1220(I)/2015, SRO 1214(I)/2015, SRO 1213(I)/2015, SRO 79(I)/2016, SRO 209(I)/2016.
Concessions/ exemptions SROs included concessions to the IC3 projects and industrial inputs. SRO 1287(I)/2015, SRO 04(I)/2016, SRO 474(I)/2016, SRO 482(I)/2016, SRO 483(I)/2016, SRO 484(I)/2016. Regulatory duty SROs included SRO 1177(I)/2015, SRO 1190(I)/2015, SRO 1247(I)/2015, SRO 1248(I)/2015, SRO 236(I)/2016, SRO 475(I)/2016, SRO 477(I)/2016, SRO 485(I)/2016. Additional customs duty/ increase in customs duty related SROs included SRO 1175(I)/2015, SRO 1178(I)/2015, SRO 1189(I)/2015, SRO 476(I)/2016 druing 2015-16.