FBR drafts new ST Registration Plan 2012

Friday, January 6th, 2012 1:30:11 by
FBR 372

RECORDER REPORT
ISLAMABAD: The Federal Board of Revenue has drafted a new Sales Tax Registration Plan (2012) for documentation of vendors, employees, suppliers and agents engaged in making huge quantity/turnover of taxable supply of goods and services without filing sales tax returns and statements. Sources told Business Recorder here on Thursday that the FBR has finalised sales tax registration plan which will be communicated to the Large Taxpayer Units (LTUs) and Regional Tax Offices (RTOs). The sales tax plan has been chalked out by the enforcement authorities of the FBR which would be disseminated to the field formations for compliance and registration of vendors, employees and suppliers etc to bring this untapped supply chain within the documented regime. Sales tax registration pan will be implemented in January 2012 targeting registration of vendors, employees, suppliers and agents engaged in taxable supply of goods and services.
According to the registration plan (2012), another important area falling in the jurisdiction of Board is control over non-filing through registration of those unregistered. There is a fairly large number of vendors/employees/suppliers/agents and other stakeholders of the withholding agents who make substantial taxable supply of goods and services. They must be having income from other sources also…
Islamabad News Sources

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Short URL: http://islamabad.newspakistan.pk/?p=11422

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