Islamabad: The Federal Board of Revenue (FBR) is likely to unveil Pakistan’s first centralised unified sales tax portal, according to reports cited in top daily newspapers on Wednesday (November 03). The site would allow taxpayers to file a single sales tax return rather than multiple returns for six distinct departments.
The platform is anticipated to be launched by Prime Minister Imran Khan later in November. According to the information provided, the site will assist numerous sectors of the economy and improve the country’s ease of doing business.
After extensive engagement with all federal territories, provinces, and shareholders, the National Tax Council (NTC) has already approved the creation of such a portal. The portal is being constructed in response to the World Bank’s (WB) request for GST collection and distribution to be harmonised between federal and provincial divisions.
By bringing up to 87 percent of the currently untaxed sector within the tax net, this gateway would result in an increase in tax collection. Furthermore, the one tax portal will enable the government to gain a clear picture of taxpayers’ business transactions across the country, boosting revenue potential and tax compliance.