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UPDATES

FBR issued list of business sectors for mandatory income tax integration

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Federal Board of Revenue (FBR) issued list of business sectors for mandatory income tax integration under income tax laws.

SRO issued vide no 779(I)/2020 by FBR to amend Income Tax Rules 2002. These businesses located in eight cities of country. These include Karachi, Lahore, Islamabad, Rawalpindi, Faisalabad, Multan, Peshawar and Gujranwala. Purpose is to share details of transactions in real time.

The following business sector include for such purpose:

a. Restaurants.

b. hotels, motels, guest houses, marriage halls, marquees, clubs (also race clubs);

c. inter-city travel by road;

d. courier & cargo services;

e. beauty parlors, clinics and slimming clinics, body massage centers; pedicure centers, including cosmetic and plastic surgery by such parlors / clinics;

 

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f. medical practitioners and consultants;

g. pathological laboratories, medical diagnostic laboratories including X-rays, CT Scan, M R Imaging etc.;

h. Hospitals or medical care centers providing medical consultants, hospitalization or other ancillary services;

i. Health clubs, gyms, physical fitness centers and body or sauna message centers;

j. Photographers;

k. Accountants;

l. Retailers including manufacturer-cum-retailer, wholesaler-cum-retailer, importer-cum-retailer or such other person who combines the activity of retail sale with another business activity.

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A d v e r t i s e m e n t

 

See also  FBR extends scope of sales tax on IT Services and IT Enabled Services

RELATED STORIES

-Federal Board of Revenue tax offices renamed

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–FBR issues list of businesses located in eight cities for mandatory income tax integration

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-FBR Announced Deadline For Retail Stores To Register With Point Of Sale

FBR warns retail stores to register with point of sale (POS) System to avoid heavy fines
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