FBR All Set to Launch Pakistan’s First Single Sales Tax Portal
The Federal Board of Revenue (FBR) is scheduled to unveil Pakistan’s first centralised, single Sales tax portal in Islamabad, according to a report in leading newspapers. The site would enable taxpayers to file sales tax returns only once, as opposed to six separate departments.
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Prime Minister Imran Khan is anticipated to unveil the platform later in November. According to the information provided, the portal will facilitate numerous economic sectors and improve the ease of doing business in the country.
After extensive engagement with all federal territories, provinces, and shareholders, the National Tax Council (NTC) has already approved the construction of such a portal. The portal is being constructed in accordance with the World Bank’s (WB) drive for harmonisation of the collection and distribution of the General Sales Tax (GST) between federal and provincial divisions.
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This gateway would also improve tax revenue by bringing up to 87 percent of the untaxed sector into the tax net. In addition, the unified tax portal will provide the government with a clear image of taxpayers’ business transactions across the nation, hence increasing revenue potential and tax compliance.
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