- FBR has tightened sales tax de-registration rules to prevent tax evasion.
- The processing time for de-registration applications is reduced from 90 to 60 days.
- Applicants cannot file Annex-C, Annex-D, or sales tax returns after applying for de-registration.
- No input tax adjustment or sales tax refund is allowed during the de-registration process.
- Other registered persons cannot claim input tax adjustments or refunds based on invoices from the de-registering person.
- The Commissioner of Inland Revenue can audit or inquire before granting de-registration.
- A written notice is required for audits, and proceedings must be completed within 90 days.
- Applicants must file a final return and clear tax liabilities under Section 28 of the Sales Tax Act, 1990.
- The computerized system completes de-registration within 90 days if all conditions are met.
- These measures aim to enhance transparency and prevent misuse of the de-registration process.
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.
