Heading: E-filers face problems after new amendments to ST rules - 2024-04-18
KARACHI: Taxpayers are facing difficulties in e-filing sales tax returns after new amendments to the Sales Tax Rules of 2006 to address the risk of sales tax fraud. According to the details, the key changes include mandatory submission of business capital details for new and existing importers, exporters, retailers, wholesalers, and distributors, annual biometric re-verification for all registered individuals, and the reinstated pre-verification requirement for fresh sales tax registrations. While these measures aim to strengthen the FBR’s controls and prevent fraudulent invoice usage, they have created hurdles for taxpayers in meeting their compliance obligations. Business class taxpayers: FBR may make balance sheets mandatory Speaking to Business Recorder, Munawar Manekia, an advocate and tax consultant, highlighted the challenges faced by taxpayers. He explained that under the new rules, sales tax returns are not accepted until the suppliers of the taxpayers have filed their respective returns. Furthermore, after the due date, taxpayers have to pay recomputed sales tax…