FBR pulls plan for sales tax relief to auto assemblers.
The Federal Board of Revenue (FBR) has withdrawn at the eleventh hour a summary that it earlier moved to seek the federal cabinet's approval for reducing sales tax liabilities of the monopolistic car assemblers in what is seen as a welcome development.
The board has also decided to improve monitoring of sales tax collection as this tax has turned out to be the most effective tool to enhance revenue collection in the current fiscal year.
FBR Chairman Shabbar Zaidi has directed the departments concerned to take immediate action against non-filers of sales tax returns for the July-August period. The share of sales tax in the total collection of taxes has sharply increased to 46percent during July and August...
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