The Finance Act 2023 amended Section 3(1A) to increase the rate of further tax from 3% to 4% of the value of taxable supplies. This move is suspected to promote the menace of flying invoices.
A further tax is levied on the supply of taxable goods to a person who does not have a sales tax registration or is not on the active taxpayer list maintained by the Federal Board of Revenue (FBR).
