In a major development towards ease of doing business initiative, the Federal Board of Revenue (FBR) and all the provinces have agreed to implement a single online portal for taxpayers to file their sales tax returns.
The portal will be launched by August this year. The proposal was raised quite a while back which was finalized in the executive meeting of Federal Board Revenue.
As per existing practice, Federal Board of Revenue and Provincial Tax Authorities separately collect Sales Tax in their own capacities. Resultantly, Tax Payers goes through the difficult process of filing Five different Tax Returns.
With the launch of the portal, the tax filers will now be able to file their respective sales tax returns at a single window. The portal will also permit Tax Payers to choose their respective revenue board while filing the return.
Moreover, FBR sources said that Sales Tax form is being simplified in order to facilitate Tax Filers. Sources further said that the Issue of double taxation is also being resolved.