Talking to Business Recorder, Khushnood A Khan, President of Karachi Sales Tax Bar Association (KSTBA), said that the board should rectify several clauses of the drafted VAT Act before its implementation to facilitate taxpayers at maximum.

 

Implications of SRO 603

THe Business community has already shown his concern that implementation of the said sro shall only increase business cost and not going to help the FBR in any way to generate any additional income as expected by them.

On the other hand the enforcement of SRO from June 25, 2009 has led to raised many queries which are yet to clarify by the FBR as detailed hereunder:

Clarification required –SRO No.603 (1) dated 25-06-2009

In the seminar held on 14^th July, 2009 organized by Karachi Chamber of Commerce & Industry in collaboration with Sales Tax Bar Association, the following Questions were raised relating to above SRO for which necessary clarification is required immediately as tax payers assessed withlarge tax payers unit have stopped the payments to small & medium suppliers.

 

Thank you Khushnood Sahib for all your efforts. Much appreciated !

Regards,

Adnan Mufti, FCA

(An independent member firm of

Moore Stephens International Limited

- members in principal cities throughout the world)

____________________________________________

C-253, P.E.C.H.S. Block 6

Off. Shahrah-e-Faisal

Karachi. Pakistan 

Tel: (92-21) 439 2484 – 85     

Fax : (92-21) 454 4766 

Email: adnan.mufti@shekhamufti.com

Web site: www.shekhamufti.com

Many thanks for sending this mail.

While reconciling the sale and purchase figures we have experienced the following problem which, of course, is the concern of everyone who has received such notices:

 

DEAR ALL`S

ATTN : KHUSHNOOD SB.

WE APPRECIATE YOUR SINCER EFFORTS WHICH YOU ARE DOING FOR TAX PAYERS, WE FULLY RECOMMEND FOR THE WITH DRAWL OF THESE NOTICES.

RANA JAVED ASLAM

M.K. SONS (PVT) LIMITED

FAISALABAD.