ISLAMABAD: The Federal Board of Revenue (FBR) held a number of sessions in Karachi and Lahore to sensitise the leading tax consultants, tax managers and businessmen about recent tax reforms undertaken by the board to promote ease of doing business.
According to an FBR statement issued on Friday, these reforms contain a number of facilities for the medium and small-sized companies, including online payment of income tax, sales tax and customs duty through Alternate Delivery Channel (ADC).
ADC includes payment through ATM, mobile banking and online banking.
The participants were informed that online payments of pension and social security contributions have been introduced by Employees Old-Age Benefits Institution (EOBI) and Punjab Employees Social Security Institution (PESSI).
Another reform undertaken by FBR is the introduction of Virtual One Stop Shop (VOSS), whereby a company and its directors get registered with the board by getting a national tax number (NTN) at the time of company registration with the Securities and Exchange Commission of Pakistan (SECP).
The participants were apprised about these reforms, which the FBR introduced in collaboration with SECP, EOBI, PESSI and Sindh Employees Social Security Institution (SESSI).
