FBR reconstitutes committee for single sales tax return filing 

Plan aims to streamline tax filing for services, banks, and insurance companies across multiple jurisdictions

The Federal Board of Revenue (FBR) has restructured the Single Sales Tax Return (SSTR) Committee to oversee the development and implementation of a unified sales tax return system for the services sector, including banks, microfinance institutions, insurance companies, and other sectors operating across different sales tax jurisdictions.

A notification issued by the FBR outlined the reconstitution of the Single Sales Tax Return Design, Development & Implementation Committee, which aims to simplify tax filing processes for businesses and promote ease of doing business. 

The Supervisory Team is led by Ardsher Saleem Tariq, Member (Reforms & Modernization) at FBR, and Aamer Amin Bhatti, Chief (ST&FE) IR-Policy Wing, FBR. The Implementation Team will be headed by Zain-ul-Abidin Sahi, Chief (IT Systems) at FBR, supported by other technical experts from the FBR and Pakistan Revenue Automation Limited (PRAL).

The new system has already been implemented for the telecom sector, and the FBR plans to expand the SSTR across all sectors, with collaboration from provincial authorities.

The committee has been tasked with ensuring that the Single Sales Tax Return portal is developed by December 2024 and fully implemented across jurisdictions by May 2025.

According to the FBR, the reconstituted committee will engage with stakeholders such as chambers of commerce, trade bodies, and provincial revenue administrations to address concerns and streamline the transition to a unified portal. The committee will also oversee the software development process, user acceptance testing (UAT), and ensure a smooth transition from the existing sales tax return systems.

The SSTR initiative is seen as a major step toward simplifying tax filing procedures and improving compliance across sectors.

Monitoring Desk
Monitoring Desk
Our monitoring team diligently searches the vast expanse of the web to carefully handpick and distill top-tier business and economic news stories and articles, presenting them to you in a concise and informative manner.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read