ISLAMABAD: Federal Board of Revenue (FBR) is set to launch Single Sales Tax Portal during this month in order to facilitate taxpayers and ensure ease of doing business (EoDB) through automation, digitisation, and minimisation of human interaction with taxpayers.
This landmark initiative has been made possible after thorough discussions with the provincial revenue authorities of Punjab, Sindh, KP, Balochistan, and AJK.Â
This facility will enable taxpayers to file single monthly sales tax returns instead of multiple returns on different portals; thereby, significantly reducing the time and cost of compliance, and thus achieving maximum efficiency.Â
The system would be intelligent enough to sift and collect revenues from a single taxpayer and distribute the same among multiple revenue agencies.
This unique project would also help in resolving the long outstanding issues of input tax adjustment among relevant stakeholders.
With the proposed launch of the portal later this month, the existing cumbersome and tedious processes would be replaced with an efficient and automated system of tax adjustments, with minimum human involvement.
The portal would also be beneficial for tax collectors in having a 360-degree view of business activities across the country in order to maximise revenue potential and tax compliance.
