AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Islamabad,
July 15, 2019 (PPI-OT): The Islamabad Chamber of Commerce and Industry said
that FBR is reportedly working in collaboration with provinces to introduce a
single tax portal for taxpayers to file their sales tax returns of goods and
services at one platform, which was a laudable initiative as it would greatly
facilitate them in filing sales tax returns and reduce the cost of doing
business. The move would also contribute towards improving ease of doing
business in the country.
Ahmed
Hassan Moughal President, Rafat Farid Senior Vice President and Iftikhar Anwar
Sethi Vice President, Islamabad Chamber of Commerce and Industry said that
under the current sales tax regime, businesses are facing difficulties in
filing sales tax returns of goods and services as they have to file returns of
goods at federal and that of services at provincial level. However, they said
that with the introduction of online single tax portal, all taxpayers will be
able to file their sales tax returns of goods and services at a single window
that would be a great facilitation for them.
Ahmed
Hassan Moughal said that under the current sales tax regime, filers are also
facing double taxation as some provinces are taxing a service at the place of
origin while the same service is also being taxed at the place of destination
in another province. Therefore, he urged that FBR should work on this issue to
minimize the chances of double taxation.
ICCI
President further stressed that FBR should implement one national sales tax
regime as the prime benefit of one sales tax structure is that Pakistan would
become a common market. He said that under the single sales tax regime, one
product or service will have a single tax rate in any part of the country
instead of multiplicity of taxes on the same commodity or service in various
parts of the country.
He said
that introduction of a single sales tax regime will also facilitate better
growth of business activities as trade and industry will have a much lesser
compliance burden. It will also provide a level playing field to domestic
manufacturers vis-à-vis imported goods. He said that some countries have
already implemented one sales tax structure and Pakistan should also seriously
consider it to facilitate the growth of business activities and improve tax
revenue of the country.
Ahmed
Hassan Moughal was of the view that the introduction of a single national sales
tax structure would bring multiple benefits to the economy as it would improve
the ease of doing business, make Pakistan an integrated economy and facilitate
the seamless transfer of goods and services across the country.
For more information, contact:
Islamabad Chamber of Commerce and
Industry (ICCI)
Chamber House, Aiwan-e-Sanat-o-Tijarat
Road,
Mauve Area, G-8/1, Islamabad, Pakistan
Tel: +92-51-2250526, 2253145, 8432676
Fax: +92-51-2252950
Email: icci@brain.net.pk, info@icci.com.pk
Website: www.icci.com.pk