ISLAMABAD: Federal Board of Revenue (FBR) has conveyed to provincial revenue authorities that the single portal for filing of sales tax returns would address their reservations on adjustment of input tax from telecom companies and regularize input tax adjustment between the FBR and provinces, reported Business Recorder.
This was discussed during the last advisory meeting held with the provincial revenue authorities/board to discuss issues regarding single portal/single sales tax return.The meeting was presided over by Chairman FBR Shabbar Zaidi.
According to the report, the project of single portal would be completed by September 30, 2019. The User Acceptance Test (UAT) of centralized registration of the taxpayers through unique identifier (NTN/CNIC based) for all relevant jurisdictions would also be completed.
The Member (IR Policy), FBR welcomed the participants from the provincial revenue authorities and highlighted the necessity for establishment of a single portal.
He stated that taxpayers are registered in multiple jurisdictions, and have to file multiple returns. There is possibility of claim of same input tax from multiple jurisdictions because of lack of check on such adjustments.
The cases of deposit of liability including that of withholding tax in the wrong jurisdictions are often reported.
He added that credit of tax/refund to entitled jurisdiction required verification and reconciliation which could be benefited by a single portal, thus doing away with complications and delays.
