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National Assembly to approve amendment to SBP Act by Jan 2015

National Assembly to approve amendment to SBP Act by Jan 2015

KARACHI: The 2.5 percent members of Provincial and National assemblies are not paying taxes despite the publication of tax directory. The list of tax defaulters has been prepared and an action will be taken against them under money laundering act. Electronic data sharing with Afghanistan has been started and a fiscal management cell has been established against tax defaulters. It has been discussed in the letter of intent issued by the IMF that amendment in SBP Act will be approved by the National Assembly by 2015 and it will be imposed by June 2015. The tender of installation of electronically monitored industrial units will be given at the end of December. The FBR has rejected the fake refund claims of Rs 10 billion with the help of computerised risk based evaluation of sales tax (CREAST).