Latest news with #SalesTax
Business Recorder
a day ago
- Business
- Business Recorder
FASTER system: FBR eases cap for deferred ST refunds
ISLAMABAD: The Federal Board of Revenue (FBR) has relaxed upper capping limit up to 10 percent of the export value for processing of deferred sales tax refunds of exporters (excluding five export orientated sectors) under the 'FASTER' system. In this regard, the FBR has issued instructions to the field formations on processing of deferred refunds under the 'FASTER' system. Under the new instructions, the FBR has relaxed refund processing limit of exporters other than five export sectors upto 10 percent. FASTER-based: Refund processing limit be raised to 12pc, PBC urges FBR According to the FBR's instructions, in pursuance of SRO 1507(I)/2024, the Board vide CRE-35 has determined lower capping for processing of refunds of exporters (other than five export-oriented sectors) at the rate of 2 percent, 3 percent, 4 percent and 8 percent of export value for processing through FASTER on the basis of their finished products. Further, for processing of deferred Sales Tax refunds of Exporters (other than five export-oriented sectors) the Board has decided to fix upper capping up to 10% of export value (including the lower capping) or the amount of valid input tax actually consumed in exports, whichever is lower as uniform policy. Copyright Business Recorder, 2025
Business Recorder
5 days ago
- Business
- Business Recorder
FBR extends tax returns filing deadline to Aug 4
ISLAMABAD: The Federal Board of Revenue (FBR) has extended the date of submission of Sales Tax and Federal Excise Return for the tax period of June, 2025 up to August 4, 2025. This is subject to the condition that due sales tax liability has been deposited within due date. In this regard, the FBR has issued instructions to Chief Commissioners Inland Revenue, Large Taxpayers Offices (LTOs), Medium Taxpayers Offices (MTOs), Corporate Tax Offices (CTOs) and Regional Tax Offices (RTOs) on Thursday. KTBA requests FBR to extend e-filing deadline In exercise of the powers conferred under section 74 of the Sales Tax Act, 1990 and section 43 of the Federal Excise Act, 2005, the FBR has directed that the date of submission of Sales Tax and Federal Excise Return for the tax period of June, 2025 which was due on July 18, 2025 and extended to August 4, 2025 subject to the condition that due sales tax liability has been deposited within due date, FBR added. Copyright Business Recorder, 2025
Business Recorder
5 days ago
- Business
- Business Recorder
Taxpayers: KCCI tells Senate body FBR can't be judge, jury and executioner
ISLAMABAD: Karachi Chamber of Commerce and Industry (KCCI) Thursday categorically conveyed to the Senate Standing Committee on Finance on Thursday that the business community cannot allow Federal Board of Revenue (FBR) to simultaneously be the judge, jury and executioner of taxpayers. The Senate Standing Committee on Finance and Revenue, chaired by Senator Saleem Mandviwalla, met Thursday to discuss the anomalies in Financial Budget 2025-26. The Committee had an extensive discussion on several anomalies in the Financial Budget 2025–26. Members of the Chambers of Commerce briefed the Committee on these anomalies, with specific focus on the clauses granting powers to the FBR to arrest on the basis of suspicion. They warned the Committee about the potential misuse of such clauses for the harassment of the business community. KCCI slams FBR for its 'authoritarian' conduct, 'indifference' In a presentation before the committee, President Karachi Chamber of Commerce & Industry (KCCI) Muhammad Jawed Bilwani highlighted that FBR has authorized Inland Revenue officers to arrest directors, CEOs, CFOs, and individuals involved in tax fraud under Section 37A of the Sales Tax Act, 1990. We cannot allow FBR to be the judge, jury and executioner of tax payers. This is a democratic country where citizens rights are protected by the judiciary. This act will cause harassment and corruption on a level unseen before eventually leading to taxpayers closing their legitimate businesses, moving their Investments abroad and Ease of doing Business Index sinking. To an all time low. The whole point of this law is to catch people who issue fake or flying invoices so is it not easier to simply specify this law for this specific offence. Jawed Bilwani further specified that the Definition of tax fraud is too vague and extremely open ended and there are apprehension of its abuse. Therefore, the said definition be restricted to make it applicable only in cases of issuance of fake and flying invoices. President KCCI stated that the new section14AE gives FBR very scary powers to force taxpayers into registering for sales tax. This law should be made softer in stance and powers need to be curtailed to an understandable extent. The language of this law will scare anyone even thinking of registering as a Sales Tax filer from entering the regime. This is a classic example of carrot and stick. We do not endorse this measure and urge FBR to have a more reasonable approach. Jawed Bilwani added that e-bilty should be removed under section 40C to remove local transfer of goods within Pakistan from this act. Digital invoicing should be implemented in a phase wise manner starting from multinationals and Public Limited entity with a Turnover in excess of Rs10 billion and then moved to the medium and ultimately small sized taxpayers with respect to turnovers. The system should be made absolutely free. Currently only one integrator certified by FBR is free while others are at cost. Copyright Business Recorder, 2025
The Sun
18-07-2025
- Business
- The Sun
Melaka KPDN monitors 5 essential items in Op Kesan 4.0
MELAKA: The Melaka Ministry of Domestic Trade and Cost of Living (KPDN) is closely monitoring five essential household items under 'Op Kesan 4.0' to prevent price manipulation. The operation, launched today, focuses on condensed milk, chocolate malt drinks, wheat flour, sardines, and white bread. Melaka KPDN director Dr Mohd Hazimin Jamaludin stated, 'This focus is also part of the monitoring measures following the implementation of the Sales Tax rate review and the expanded scope of the Service Tax (SST), which began on July 1.' From July 1 to July 17, authorities inspected 35 premises involving 63 stock-keeping units (SKUs). A written notice was issued for three SKUs, including a viral case related to ice pricing. Mohd Hazimin added that KPDN is also checking for quantity manipulation, where packaging sizes shrink without significant price adjustments. 'Sometimes the price remains the same, but the quantity decreases. What is important is not just cheapness, but fairness to consumers.' Consumers are encouraged to report violations via WhatsApp (019-8488000), the e-complaint portal ( or the call centre (1-800-886-800). From January 1 to July 17, Melaka KPDN recorded 234 enforcement cases under various Acts, with seizures worth RM261,360. Compounds totalled RM66,700, while fines reached RM299,500. Fourteen individuals were detained in 13 arrest cases. - Bernama
Barnama
18-07-2025
- Business
- Barnama
Melaka KPDN Tracking Five Essential Household Items In Op Kesan 4.0
MELAKA, July 18 (Bernama) -- The Melaka Ministry of Domestic Trade and Cost of Living (KPDN) is focusing on inspecting five essential household items under 'Op Kesan 4.0' launched today to ensure there is no price manipulation of basic consumer goods. Melaka KPDN director Dr Mohd Hazimin Jamaludin said the five items were condensed milk, chocolate malt drinks, wheat flour, sardines and white bread. "This focus is also part of the monitoring measures following the implementation of the Sales Tax rate review and the expanded scope of the Service Tax (SST), which began on July 1. "For the period from July 1 to yesterday (July 17), a total of 35 premises involving 63 stock-keeping units (SKUs) were inspected and a written notice was issued involving three SKUs including a viral case related to the price of ice," he said after conducting an Op Kesan 4.0 monitoring at a supermarket in Angkasa Nuri, Durian Tunggal here today. Elaborating further, Mohd Hazimin said that apart from tracking prices, his department also paid attention to the issue of manipulation in the quantity of goods, such as reducing packaging size without a significant change in price. "Sometimes the price remains the same, but the quantity decreases. What is important is not just cheapness, but fairness to consumers. "We also encourage users who detect any non-compliance to file a complaint via WhatsApp at 019-8488000, the e-complaint portal ( or the call centre 1-800-886-800," he said. Meanwhile, he said the Melaka KPDN enforcement statistics for the period from Jan 1 to July 17 recorded 234 cases under various Acts with a seizure value of RM261,360. "The total value in compounds issued was RM66,700, while the total in fines reached RM299,500. In all, 14 individuals were also detained, involving 13 cases of arrest for further investigation," he said.
