KARACHI: The Sindh Revenue Board (SRB) has launched a tax incentive package that allows taxpayers up to 95 per cent exemption on the default surcharge, total remission of penalties and immunity from arrest and prosecution.
Taxpayers will have to deposit the outstanding principal and default surcharge within the prescribed timeframe to avail this package.
The SRB has laid down three timelines for investors to avail the scheme that starts from May 19 and ends on June 9. The tax amount and default surcharge under these timelines will have to be deposited with the Sindh government head account B-02384.
The SRB announced the scheme through a notification on May 18. Those taxpayers, service-providers and withholding agents who deposit the outstanding principal amount between May 19 and 25 will get up to 95pc exemption on the default surcharge.
Those taxpayers who deposit the outstanding tax amount between May 26 and June 2 will get 90pc exemption on the default surcharge. Those taxpayers who pay the outstanding tax amount during June 3 and June 9 will get 80pc exemption on the default surcharge.