In a significant move aimed at simplifying the process of filing sales tax returns, the Federal Board of Revenue (FBR) has established a dedicated committee. This committee, consisting of 10 key members,…
Tag: sales tax
FBR accelerates the non-export sector sales tax refund process.
The Federal Board of Revenue (FBR) is working to speed up the processing of sales tax refunds, particularly for businesses that do not export goods. These refunds are classified as carry-forward-based refunds…
FBR uncovered a significant sales tax fraud that spans several key industries
With the assistance of its top intelligence agency, the Federal Board of Revenue (FBR) has identified a massive sales tax fraud operation involving billions of rupees across numerous critical industries. Coal, oil…
FBR excludes agricultural property from Section 7E sales tax
The Federal Board of Revenue (FBR) will not impose tax on agricultural properties, except for farmhouses, as per section 7E of the Income Tax Ordinance 2001. In circular number 3 of 2023,…
FBR exempts oxygen imports from sales tax
From November 9, 2021, until June 30, 2022, the Federal Board of Revenue (FBR) has exempted sales tax on the import of oxygen gas, cylinders (for oxygen gas), and cryogenic tanks (for…