The Karachi Stock Exchange (Guarantee) Limited’s notice of all members

Karachi: Reproduced hereunder is a letter number D.O. No. SRB-STM-3-4/412/2011 dated August 24, 2011 received from Mr. Shahid Hussain Abro, Assistant Commissioner, Sindh Revenue Board regarding Sindh Sales Tax on Services Act 2011 alongwith their Press Release.

Members of the Karachi Stock Exchange are requested to note the same and do the needful. (Copy of the same is also available on our Website

Government of Sindh Sindh Revenue Board Karachi

I am directed to refer to your Letter No. KSE/Govt-5099 dated: 24th August 2011. The position has been clarified by Sindh Revenue Board in a press release issued on 24th August 2011, which is available on our website

You are advised to please inform all your members to get enrolled and pay Sindh Sales Tax on Services for the month of July by August 25th 2011 in the Head of Account No. B-02382 Sindh Sales Tax on Services, Government of Sindh,

Press Release

The Sind Revenue Board (SRB) has clarified the news report regarding agreement on assignment of collection rights under Sindh Sales Tax on Services Act, and has made it clear that no agreement can be reached unless as a first stop Federal Excise Duty (FED) on services is withdrawn with immediate effect. The Sindh Revenue Board has advised the Service providers including Banks, Insurance, re-insurance, Telecommunication and other companies, provided and rendered services in Sindh in the month of July to abide by Law and Rules get enrolled, file return form and make payments to Sindh Revenue Board in the prescribed Head of Account #. B-02382 of Government of Sindh by 25th August, 2011. The Sindh Revenue Board appreciates the support and assistance of the tax payer Community for making timely payments in the Head of Account of Government Sindh and has advised the remaining Service providers to make payments by 25th August, 2011 to avoid penalty.

For more information, contact:
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136

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