- The Federal Board of Revenue (FBR) has announced the sales tax recovery procedure for tax year 2024.
- The procedure is outlined in Section 48 of the Sales Tax Act, 1990.
- The recovery methods include deduction from owed money, notice for payment, stoppage of goods removal, stoppage of clearance of imported or manufactured goods, sealing of business premises, attachment and sale of property, and guarantor’s liability.
- Provisions for appeals and write-offs are included to protect taxpayers’ rights.
- The officer of Inland Revenue has legal authority equivalent to a Civil Court.
- International cooperation is allowed for the collection and recovery of taxes.
- The aim of the procedure is to streamline the process, enhance compliance, and ensure effective revenue collection for tax year 2024.
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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