- FBR has identified specific categories for mandatory sales tax registration in 2024
- Categories include importers, wholesalers, manufacturers not in cottage industry, retailers, persons required by law, and persons making zero-rated supplies
- Failure to comply may lead to compulsory registration by the department
- Aim is to broaden tax base, reduce tax evasion, and enhance revenue collection
- Businesses urged to initiate registration process promptly to avoid penalties or legal consequences
Source: pkrevenue.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
