- Bill says that each payment intermediary will present a quarterly retention statement.
- Each online market must present the amount deposited in the supplier account.
- The Federal Revenue Board takes online purchases to the fiscal network on the finance bill.
Islamabad: The Federal Income Board has incorporated online purchases into the Finance Law 2025-26. The news reported.
The Finance Law project says less than 165C that each intermediary and payment messaging service responsible for deducting taxes under the subsection (2nd) of section 153 of the Ordinance will present a declaration of quarterly retention to the Commissioner for the deduction of taxes with respect to the sale of digitally ordered goods and services for each quarter of a fiscal year.
This will be done in the prescribed form that establishes: (a) name, identification number (NTN/CNIC) and seller’s address; (b) transaction date, unique identifier (invoice number) and total transaction value; (c) the total amount of taxes deducted at the time of payments to the seller; And any other particular can be prescribed.
Each online market in Pakistan will submit a monthly statement containing the registration number of name, address, sales tax and income taxes of each supplier registered on its platform that supplies goods and services digitally ordered in electronic commerce, the transactional quantity and aggregate of the monthly participation of the seller and the amount deposited in the bank account of the provider against the sales transactions.
All provisions from Section 165 exclude subsections (1), (1a) and (6) must apply mutatis mutandis with respect to the expiration date of the filling of the retention statements, review of the statements, the power to request the state of the commission, the extension of the time to provide the declaration after the expiration date, the power of the Board, the presentation of the annual retention declaration and the declaration of annual retention. Reconciliation of the annual declaration with the state of retention of the annual branches.
