{"id":66095,"date":"2020-06-02T12:49:50","date_gmt":"2020-06-02T07:49:50","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=66095"},"modified":"2020-06-02T12:50:36","modified_gmt":"2020-06-02T07:50:36","slug":"sindh-sales-tax-incentive-package-announced","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/sindh-sales-tax-incentive-package-announced.html","title":{"rendered":"Sindh Sales Tax Incentive Package announced"},"content":{"rendered":"\n<p>Karachi: The Sindh Revenue Board (SRB) on Monday announced the Sindh Sales Tax Incentive Package to broadly facilitate local consumers and vendors, a news source reported. The package features a total waiver on penalties and remissions up to 100% of default surcharge amounts.<\/p>\n\n\n\n<p><strong>Read<\/strong>: <a href=\"https:\/\/www.zameen.com\/news\/sindh-reports-20-increase-sales-tax-collection.html\" target=\"_blank\" rel=\"noreferrer noopener\">Sindh reports 20% increase in sales tax collection<\/a><\/p>\n\n\n\n<p>According to details, the Sindh Sales Tax Incentive Package will provide significant relief and benefits to taxpayers, withholding agents, and service providers \u2013 subject to tax compliance \u2013 as per the Sindh Sales Tax on Services Act.<\/p>\n\n\n\n<p>Further, the announced package provides relief up to 100% of the default surcharge amount, a total cancellation of penalties, and immunity from arrest and prosecution if the taxpayer submits the following:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>liability on the arrears of tax (outstanding on May 31, 2020) and 0% of the default surcharge amount for the period between June 1, 2020 and June 15, 2020<\/li><li>liability on arrears of tax (outstanding on May 31, 2020), along with 5% of the default surcharge amount for the period between June 16, 2020 and June 22, 2020<\/li><li>liability of arrears of tax (outstanding on May 31, 2020) and 10% of the default surcharge amount for the period between June 23, 2020 and June 30, 2020<\/li><\/ul>\n\n\n\n<p><strong>Read<\/strong>: <a href=\"https:\/\/www.zameen.com\/news\/sindh-govt-lowers-sales-tax-healthcare-services.html\" target=\"_blank\" rel=\"noreferrer noopener\">Sindh govt lowers sales tax on healthcare services<\/a><\/p>\n\n\n\n<p>Additionally, the Sales Tax Incentive Package includes a remission of 95% of the penalty amount in cases where the taxpayer has no outstanding tax liabilities but only arrears on penalty amounts and\/or default surcharges. The package also allows cancellation of 90% of the amount of such a default surcharge when the taxpayer has paid the amount of the penalty and default surcharge during the period from June 1, 2020 to June 30, 2020.<\/p>\n\n\n\n<p>The SRB has asked all service providers, withholding agents, and taxpayers to use the incentive package before it expires on June 30, 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The Sindh Revenue Board (SRB) on Monday announced the Sindh Sales Tax Incentive Package to broadly facilitate local consumers and vendors, a news source reported. The package features a total waiver on penalties and remissions up to 100% of default surcharge amounts. Read: Sindh reports 20% increase in sales tax collection According to details, the Sindh Sales Tax Incentive Package will provide significant relief and benefits to taxpayers, withholding agents, and service providers \u2013 subject to tax compliance \u2013 as per the Sindh Sales Tax on Services Act. Further, the announced package provides relief up to 100% of the default surcharge amount, a total cancellation of penalties, and immunity from arrest and prosecution if the taxpayer submits the following: liability on the arrears of tax (outstanding on May 31, 2020) and 0% of the default surcharge amount for the period between June 1, 2020 and June 15, 2020 liability on arrears of tax (outstanding on May 31, 2020), along with 5% of the default surcharge amount for the period between June 16, 2020 and June 22, 2020 liability of arrears of tax (outstanding on May 31, 2020) and 10% of the default surcharge amount for the period between June&hellip;<\/p>\n","protected":false},"author":68,"featured_media":59970,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[30571],"persona":[],"class_list":{"0":"post-66095","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"tag-details-on-sindh-sales-tax-incentive-package-announced","9":"cat-15015-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Sindh Sales Tax Incentive Package announced - Zameen News<\/title>\n<meta name=\"description\" content=\"Sindh Revenue Board (SRB) has announced the Sindh Sales Tax Incentive Package to broadly facilitate local consumers and vendors, a news source reported.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/sindh-sales-tax-incentive-package-announced.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sindh Sales Tax Incentive Package announced - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Sindh Revenue Board (SRB) has announced the Sindh Sales Tax Incentive Package to broadly facilitate local consumers and vendors, a news source reported.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/sindh-sales-tax-incentive-package-announced.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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