July 9, 2024 

Karachi, July 9, 2024 – The Finance Act 2024 has introduced significant changes, imposing limitations on the Federal Board of Revenue (FBR) regarding the issuance of assessment notices. This move aims to streamline tax processes and provide clarity to taxpayers.

The act has added a new Section 11G to the Sales Tax Act of 1990, establishing a defined timeframe for issuing and processing show cause notices and assessment orders.