Latest FBR Releases
FBR has given sales taxpayers the one-time waiver of penalties and additional tax if principal amount of outstanding sales tax (including illegal adjustments) were paid by 30th June. Further concession in this was given b y FBR on 27th June in SRO 774(1)/2012 allowing only 25% of Sales tax to be paids now, and the balance in equal installments by 30.12.2012, with other conditionalities.
2. In response to public queries on whether the benefit of SRO 774(1)/20012 dated 27-06-2012 is also available to those who have already made payment of 25% or more of the principal amount prior to the issuance of the said notification, the FBR issues following clarification, as tomorrow (Saturday 30 June) is LAST DATE of this facility.
3. FBR clarifies that the benefit of SRO 774(1)/2012 dated 27-6-2012 shall only be available to those registered persons who pay during June 27-30, 2012 atleast 25% of the principal amount as outstanding against them on June 27, 2012. The conditions laid down in SRO 774(1)/2012 dated 27-6-2012 i.e. regarding payment of balance amount etc will continue to apply.
3. Thus, any amount deposited prior to June 27, 2012 shall not make the registered person eligible to claim benefit of the said notification unless he makes payment on or after June 27, 2012 of atleast 25% of the balance principal amount as outstanding on the said date.