Punjab Revenue Authority (PRA) Chairman Raheel Ahmad Siddique signed a MoU with the Federal Board of Revenue (FBR) on Wednesday in which parameters regarding input tax adjustment were decided. It is pertinent to mention here that for some time Punjab Revenue Authority was claiming billion of rupees from the FBR in the form of input tax adjustment, but the FBR was contesting the point of view.
After the implementation of these parameters, the taxpayers shall be at ease in claiming refunds. They shall also get rid of double taxation Punjab Revenue Authority, claims of billions of rupees from the FBR has also a better chance of getting settled. After signing the MoU, PRA chairman said that our aim is to facilitate the taxpayers and remove the hurdles.