Displaying items by tag: Federal Board of Revenue

Pakistan: The Federal Board of Revenue (FBR) has introduced a new valuation mechanism for collecting sales tax on cement, effective 1 May 2025. Under the revised approach, the FBR will use the average national retail price of cement as reported in the Pakistan Bureau of Statistics' (PBS) weekly Sensitive Price Index (SPI). Average prices will be calculated just before the 1st and 16th of each month, with the values used to calculate taxes for the approximately two-week periods that begin on the corresponding dates.

FBR officials said the decision aims to prevent under-invoicing practices within the cement sector by aligning the taxable value with officially reported retail prices.
By using PBS data as the benchmark, the FBR expects to streamline sales tax collection and reduce revenue leakage in the cement supply chain.

Pakistan: Pakistani cement producers have achieved 100% coverage of their cement despatches under the country’s track and trace scheme. Pakistan Today News has reported that the scheme collects despatch data for automatic submission to the Federal Board of Revenue. It uses licensed technology from US-based Authentix.

Pakistan: The All Pakistan Cement Dealers Association has suspended sales of cement in protest against ‘unjustifiable’ taxes. Asif Saeed, the president of the association, has accused the government and the Federal Board of Revenue (FBR) of levying ‘numerous’ taxes on the cement sector, according to the Business Recorder newspaper. He claimed that the association’s members will remain on strike until their demands are met.