Islamabad: 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 the FBR’s press statement here, the signing of the memorandum of understanding is one of the most important components of the unified sales tax initiative currently underway between the federal government 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 people related to the business now only need to submit one business tax return instead of many returns.
He further stated that this step will help simplify the taxation system and procedures, and that other issues currently existing between the Federal Ministry of Commerce and Development and the provincial tax authorities will be resolved as soon as possible, which will bring greater convenience to the business community .
Waqar Masood congratulated Chairman FBR, heads of Provincial Revenue Authorities and FBR’s Policy Wing Team on achieving this significant milestone.