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Home » Karachi

Sindh okays tax incentive package

Karachi: Acceding to the request of the taxpayers, Taxpayers’ Association and Tax Bar, the Sindh Revenue Board, Sindh Chief Minister Syed Murad Ali Shah has issued Tax Incentive Package which provides substantial benefits and relief to the taxpayers, service providers and withholding agents in return of their tax compliance.

In this regard, a notification No. vide its notification No. SRB-3-4/7/2017 dated 18th May, 2017, has been issued. In cases where no tax liability is outstanding but only the arrears of amounts of penalty and default surcharge are outstanding, the tax incentive package allows the remission of 90% of the amount of such penalty and 75% of the amount of such default surcharge, if the balance of the amounts of penalty and default surcharge is deposited during the period from 19th May, 2017 to 9thJune, 2017.

Sindh Revenue Board (SRB) has advised all taxpayers, service providers and withholding agents to avail of the benefits of the said Tax Incentive Package which shall expire at the close of the 9th June, 2017. The incentives announced through this concession provide an opportunity to the taxpayers who, for any reason, have not been able to clear up their tax liabilities, added up by default surcharge or, in some cases, the amounts of penalty, over the period involved. This may also help reduce the litigation in cases where the taxpayers have gone to the courts of law seeking relief on default surcharge or penalty.

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