Sindh unveils tax incentive package
The package includes exemption of up to 95% of the amount of default surcharge
PHOTO: REUTERS
KARACHI:
Acceding to the request of taxpayers, taxpayers’ associations and the tax bar, the Sindh Revenue Board, with the approval of the government of Sindh, has issued a tax incentive package. It provides substantial benefits and relief to the taxpayers, service providers and withholding agents in return for tax compliance, under the Sindh Sales Tax on Services Act, 2011. The package includes exemption of up to 95% of the amount of default surcharge, total remission of penalties and immunity from arrest and prosecution. In cases where no tax liability is outstanding, but only the arrears of penalty and default surcharge are outstanding, the tax incentive package allows the remission of 90% of the amount of such penalty and 75% of the amount of such default surcharge, if the balance of the amounts of penalty and default surcharge is deposited during the period from May 19, 2017 to June 9, 2017.
Published in The Express Tribune, May 20th, 2017.
Acceding to the request of taxpayers, taxpayers’ associations and the tax bar, the Sindh Revenue Board, with the approval of the government of Sindh, has issued a tax incentive package. It provides substantial benefits and relief to the taxpayers, service providers and withholding agents in return for tax compliance, under the Sindh Sales Tax on Services Act, 2011. The package includes exemption of up to 95% of the amount of default surcharge, total remission of penalties and immunity from arrest and prosecution. In cases where no tax liability is outstanding, but only the arrears of penalty and default surcharge are outstanding, the tax incentive package allows the remission of 90% of the amount of such penalty and 75% of the amount of such default surcharge, if the balance of the amounts of penalty and default surcharge is deposited during the period from May 19, 2017 to June 9, 2017.
Published in The Express Tribune, May 20th, 2017.