Sindh Revenue Board announces tax incentive package

KARACHI: The Sindh Revenue Board (SRB) has announced a tax incentive package to provide relief to taxpayers, service providers and withholding agents in return for tax compliance, under the Sindh Sales Tax on Services Act, 2011.

In a notification issued on Monday, the SRB announced exemptions of up to 100 per cent of the amount of default surcharge, total remission of penalties and immunity from arrest and prosecution if the taxpayer deposited the liability of the arrears of taxes outstanding as of May 31.

According to the notification, there will be no default surcharge if payment is made between June 1 to 15, five per cent of the default surcharge if paid between June 16 to 22, and 10 per cent if paid between June 23 to 30.

Meanwhile, in cases where there was no outstanding tax liability, but only the penalty or default surcharge were to be paid, the SRB has allowed the remission of 95 per cent of the penalty and 90 per cent of the default surcharge, if the balance was deposited by June 30. 

Published in The Express Tribune, June 2^nd, 2020.