Building further on its ongoing drive for digitization to facilitate the taxpayers, promote ease of doing business and reduce compliance costs, FBR achieved one more milestone by developing National Sales Tax Return.
This important project is all set to be launched by Finance Minister,Shaukat Fayaz Tarin, on Friday at FBR (HQs), Islamabad.
This is by all means a watershed initiative towards automation, data integration and harmonization of taxes.
It is pertinent to mention that the National Sales Tax Return was developed after rigorous discussions with the provincial governments and their revenue authorities.
The feedback from other stakeholders, including taxpayers and tax practitioners, was incorporated.
This digital facility will simplify tax filing procedures and thereby save compliance costs. This has been one of the key recommendations of international agencies such as World Bank and IMF.
The National Sales Tax Return will minimize data entry, which will address the common issues of data and calculation errors.
