The Federal Board of Revenue has directed the field formations to - TopicsExpress

The Federal Board of Revenue has directed the field formations to charge enhanced rate of 17 percent sales tax from June 13, 2013. It is learnt here on Friday that the FBR has issued budgetary instructions (2013-14) of sales tax and federal excise to the Large Taxpayers Units (LTUs) and Regional Tax Offices (RTOs) for compliance. According to the budgetary instructions, the revenue measure included increase in the Standard Rate of Sales Tax from 16 percent to 17 percent. The section 3 of the Sales Tax Act, 1990 has been amended to enhance the standard rate of sales tax from the present 16 percent to 17 percent. This measure is effective from June 13, 2013.

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