FBR raises the documentation for sales tax for business ventures
Federal Board of Revenue (FBR) has amended the procedure for documentation on sales tax by business enterprises. Hereafter, registered manufacturers, commercial importers, distributors, and wholesalers would submit additional information regarding their stock every month.
According to the new SRO55(I)/2025, FBR has introduced two new statements, which are Annex-J for production data and Annex-Hl for stock statement. These statements are required for businesses listed under this rule.
Manufacturers: A registered manufacturer, who supplies taxable goods, now needs to give details of the goods he has produced or manufactured and also of the goods he has supplied in the Annex-J section of his monthly return.
Importers, distributors, and wholesalers: All commercial importers, distributors, and wholesalers who registered. and supply taxable goods must furnish a stock statement Annex-Hl. The statement has to be for the goods bought or imported into the country by the suppliers of these goods.
This new requirement should enhance transparency with regard, to an accurate report about taxable goods supplied in the market.
