FBR Asset Declaration Ordinance-2019 Last date to apply

FBR Assets Declaration Scheme 2019

Asset Declaration Ordinance-2019 has made it simple and easy to declare undisclosed domestic and foreign assets/ Benaami properties. Grab this opportunity and make your assets documented. Become a beneficiary before the last date i.e. 30th June 2019.

Federal Board of Revenue (FBR) has issued instructions to all the Custom field offices to remain open and observe extended working hours till 10:00 pm on 29th June 2019(Saturday) and till 12:00 pm on 30th June 2019 (Monday) for collection of duty/taxes. FBR has further instructed the Chief Collector of Customs to liaise with the State Bank of Pakistan and other scheduled commercial banks in their respective jurisdiction to ensure transfer of the duties/taxes collected by these branches to the respective branches of State Bank of Pakistan on the same date and to account the same towards collection for the month of June, 2019.

FBR Asset Declaration Ordinance-2019

The Federal Board of Revenue has announced that the automated system for sales tax registration will be effective from 1st July 2019. The following procedure is proposed and the same shall replace the one as prescribed in sub-rules (2) to (8) of rule 5 of the Sales Tax Act, 1990:
The applicant having NTN/income tax registration shall, using his login credentials, upload following information/documents:
(a) Bank account certificate issued by the bank in the name of the business
(b) Registration/consumer number with the gas and electricity supplier
(c) Particulars of all branches in case of multiple branches at various locations
(d) GPS-tagged photographs of the business premises
(e) In the case of a manufacturer, also the GPS-tagged photographs of machinery and industrial electricity or gas meter installed
On furnishing the above documents, the system shall register the applicant for sales tax. After registration, the applicant or his authorized person shall visit the E-Sahulat Centre of NADRA within a month for biometric verification. In case of failure to visit or failure of verification, the registered person’s name shall be taken off the sales tax Active Taxpayer List. In the case of a manufacturer, the Board may require post verification through field offices or a third party authorized by the Board. In case, the field office, during scrutiny after the registration, finds that any document provided is non-genuine /fake/wrong, it may request through the system, to provide the missing document, in fifteen days, failing which the registered person shall be taken off from the sales Active Taxpayer List.

Last date to avail 30th June 2019

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