FBR tax portal would be operational from next month. However, it will be a single platform to assist filers. FBR and the four provinces have decided to come together and launch a single online portal for tax filers of goods and services under the governments relieve for running businesses. It will bring ease to taxpayers in submitting their tax.
Currently, The FBR collects the sales tax on good and the service tax is collected by the provincial revenue board. (NFC) National Finance Commission formula will be applied under the agreement between the FBR and the revenue board where FBR will share the sales tax with the government.
The final meeting took place in the headquarters of Federal Board of Revenue (FBR) along with the four representatives of the revenue board of the provinces where the final decision has been made. The Portal will be activated in August. It will make a major tax change in the country.
The taxpayers will have all the access of FBR and provincial sales tax returns in one portal. The FBR is working to make things easier on the sales tax return form and have already hired advisors to widen the form.