Islamabad: The Federal Board of Revenue (FBR) has recently announced a set of revised sales tax regulations that will have a widespread impact on retailers across the country, as reported by a news source on December 12.
According to the official notification, retailers are now required to obtain a sales tax payment license. Notably, compliance with this requirement involves submitting necessary information to the FBR to secure the license. Under these new measures, the scope of sales tax has been broadened to include all registered individuals, moving beyond the previous focus solely on tier-one retailers.
To streamline and supervise this licensing process, the FBR is in the process of establishing a dedicated committee. This committee will be empowered to assess the provided data and make decisions regarding the issuance or revocation of licenses. This move is aimed at ensuring a more organised and efficient implementation of the revised sales tax regulations.
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