FBR, Provincial Revenue Authorities Sign MoU For Single Tax Return

Federal Board of Revenue (FBR) and all the four provincial revenue authorities Wednesday signed a Memorandum of Understanding (MOU) for a single sales tax return and single web portal

ISLAMABAD, (UrduPoint / Pakistan Point News - 7th Apr, 2021 ):Federal Board of Revenue (FBR) and all the four provincial revenue authorities Wednesday signed a Memorandum of Understanding (MOU) for a single sales tax return and single web portal.

According to an FBR press statement issued here, the signing of the MOU was one of the most significant components of harmonization of sales tax initiative currently underway between the Federation and the provinces.

On behalf of FBR, the MoU was signed by Chairman FBR, M. Javed Ghani whereas the heads of all provincial revenue authorities signed the document on behalf of their respective departments.

The representatives of Khyber Pakhtunkhwa Revenue Authority (KPRA) and Balochistan Revenue Authority (BRA) were physically present in the ceremony whereas the representatives of Sindh Revenue Board (SRB) and Punjab Revenue Authority (PRA) participated virtually through Zoom.

Speaking on the occasion, Special Assistant to Prime Minister on Revenue, Dr.

Waqar Masood Khan said that signing of the document was another step towards completion of Prime Minister's vision to make FBR fully automated.

"This step will bring facilitation for taxpayers and it will help a great deal in improving the country's position on 'Ease of Doing Business Index'," he added.

He further added that now persons associated with businesses would only have to file one Sales Tax Return instead of many returns.

He further said that this step would help bring simplification in tax system and procedure and expressed commitment that other issues currently existing between FBR and provincial revenue authorities would soon be resolved which would further bring ease for business community.

Waqar Masood congratulated Chairman FBR, heads of Provincial Revenue Authorities and FBR's Policy Wing Team on achieving this significant milestone.