In Pakistan, tax collection and reporting mechanisms are complex and decentralised that has made income tax collection a very challenging job. The provinces collect GST on services that is not properly reported to the Federal Board of Revenue (FBR).
Under the VAT regime, the FBR that collects sales tax on goods can find out the annual turnover of a company or individual based on the sales tax deposited.
Source: www.thenews.com.pk
Latest Posts in "Pakistan"
- Pakistan Revises Customs Values for Imported Tamarind with Seeds from Thailand
- User Manual for Sales Tax Withholding on Digitally Ordered Goods in Pakistan (Version 0.1)
- National Grid Company Seeks VAT Exemption on Imported Equipment for Development Projects Amid Financial Strain
- Textile Council Urges PM to Declare Export Emergency Amid Plunging Exports and Widening Trade Deficit
- Pakistan Rolls Out Phased E-Invoicing Linked to VAT and Sales Tax Compliance













