- Karachi Tax Bar Association (KTBA) has raised concerns over new conditions for raising credit notes for sales tax returns in Pakistan.
- KTBA labeled the conditions as impractical due to legal loopholes and urged their reversal.
- The new procedures require verification by the relevant Commissioner, placing an undue burden on taxpayers.
- KTBA suggested the introduction of a monetary threshold below which approval from the Commissioner should not be necessary.
- The Circular lacks clear timelines and document requirements, creating potential for arbitrary decision-making.
- KTBA urged that any amendments or restrictions should not unduly affect compliant sales taxpayers.
- They called for the immediate reversal of the new circular and its reintroduction with the necessary legal backing.
Source: pkrevenue.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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