SRB announces tax relief

SRB approves a proposal for tax incentive scheme under which penalties would be scrapped


APP June 01, 2021
The FBR managed to exceed the sales tax and customs duty collection targets, but again missed the targets of income tax and federal excise duty. PHOTO: FILE

KARACHI:

The Sindh Revenue Board (SRB) has announced a tax incentive scheme which allows complete exemption from penalties and provides significant relief for Sindh sales tax (SST) defaulters in payment of default surcharge. The move comes after the board held meetings with different chambers of commerce and taxpayer associations. In a statement on Monday, the SRB approved a proposal for tax incentive scheme under which penalties would be scrapped. Moreover, substantial exemption from the default surcharge liability will be provided to the taxpayers and defaulters, provided that they deposit the principal amount of arrears of Sindh sales tax during June 2021. In the initial 12 days of June 2021, the tax incentive scheme will allow complete exemption from penalty and default surcharge if the principal amount of arrears is deposited between June 1 and June 12.

Published in The Express Tribune, June 1st, 2021.

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