Pakistan's Federal Board of Revenue has issued a release on the 60% denial of input tax for retailers not integrated with the FBR's online system, which was increased from 15% as part of the Finance Act 2021.
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FBR TO DENY 60 % INPUT TAX TO NON-INTEGRATED TIER-1 RETAILERS
Federal Board of Revenue (FBR) in its drive to integrate Tier-1 Retailers across the country, has issued Sales Tax General Order No.1 of 2022 by which a system-based approach is being adopted to integrate non-Integrate…