KARACHI: The Sindh Income Board (SRB) has launched a tax incentive package deal that permits taxpayers as much as ninety five per cent exemption on the default surcharge, complete remission of penalties and immunity from arrest and prosecution.
Taxpayers should deposit the excellent principal and default surcharge inside the prescribed timeframe to avail this package deal.
The SRB has laid down three timelines for buyers to avail the scheme that begins from Might 19 and ends on June 9. The tax quantity and default surcharge beneath these timelines should be deposited with the Sindh authorities head account B-02384.
The SRB introduced the scheme by means of a notification on Might 18. These taxpayers, service-suppliers and withholding brokers who deposit the excellent principal quantity between Might 19 and 25 will rise up to 95pc exemption on the default surcharge.
These taxpayers who deposit the excellent tax quantity between Might 26 and June 2 will get 90pc exemption on the default surcharge. These taxpayers who pay the excellent tax quantity throughout June three and June 9 will get 80pc exemption on the default surcharge.
Nevertheless, all taxpayers who avail the tax incentive package deal will get 100pc penalty waiver.
Up to now, the SRB efficiently launched such schemes and picked up as much as Rs500 million.
The tax package deal permits the remission of 90pc of penalty arrears and 75pc of the default surcharge in case no tax legal responsibility is excellent.
The SRB expects that the package deal will assist scale back litigation in instances the place taxpayers search aid when it comes to the default surcharge or penalty.
The SRB expects to gather over Rs1bn via the package deal.
Revealed in Daybreak, Might nineteenth, 2017
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