KTBA Criticizes FBR’s New Sales Tax System, Calls for Immediate Reforms to Avoid Chaos

• KTBA criticizes FBR’s new sales tax filing system as chaotic
• Sales tax compliance is nearly impossible under the new digital system
• Seminar in Karachi highlighted challenges with the new system
• Annexure C1 is particularly problematic, adding complexity without support
• New process disrupts operational efficiency, especially for SMEs
• Businesses struggle with detailed data requirements for sales tax filing
• Annexure C1 requires detailed tracking of payments, causing administrative issues
• Credit sales pose timing challenges under current rules
• Annexure H-1 demands detailed monthly stock movement reports
• Annexure J criticized for flawed stock value calculations
• KTBA calls for immediate reforms or rollback of the new system
• Warns of potential taxpayers’ revolt if issues are not addressed

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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