The government has introduced procedural amendments in tax laws through the Finance Bill 2014 to improve tax compliance.
Official documents show the government has exempted from income tax the receipt of Pakistan Telecommunication Authority’s (PTA) income regarding the sale of spectrum licenses.
An amendment is introduced to exempt the PTA’s income with retrospective effect from March 2014. “The income of the sale of spectrum licenses will be the income of federal government and not of PTA,” the amendment reads.
Official spokesperson for the Federal Board of Revenue (FBR), Shahid Husain Asad, said the tax department has collected the advance tax of 10 per cent from the auction of 3G/4G licenses. “We have already collected Rs10.9 billion from the license holders,” he added.
Through another amendment, the FBR can depute any officer on the business premises of the registered person to monitor production of taxable goods and stock position.
