July 10, 2024 

Lahore, July 10, 2024 The Lahore Tax Bar Association (LTBA) has raised concerns about the challenges faced by businesses in filing sales tax returns following the implementation of a new regulation, SRO 350(I)/2024.

In a letter sent to the Federal Board of Revenue (FBR) Chairman, Malik Amjad Zubair Tiwana, on Wednesday, the Lahore Tax Bar Association highlighted the complexities arising from a rule amendment introduced by SRO 350. The amendment, implemented in March 2024, stipulates that a buyer’s sales tax return is considered provisional until the corresponding seller files their return for the same period by the end of the month.