- Beginning with the January 2025 sales tax return, all producers, importers, distributors, and sellers of taxable goods in Pakistan must report the value and quantity of goods produced, acquired, and sold, as mandated by the Pakistan Federal Board of Revenue (FBR) through SRO No. 55(I)/2025.
- Registered manufacturers are now required to submit “Annexure — J” with their monthly sales tax return, detailing the description of goods (including HS Code and unit of measurement), as well as information on opening stock, goods manufactured, and closing stock quantities.
- Registered commercial importers, distributors, and wholesalers must provide detailed itemized stock information through the newly introduced “Annexure – H1,” which will also be mandatory starting with the January 2025 return, emphasizing the need to accurately assess closing stock as of December 31, 2024, for declaration as opening stock in the following return.
Source EY
