FBR aims to increase sales tax registrations up to 400,000
Around 250,000 people are already registered with FBR's sales tax net.
(APP) – The Federal Board of Revenue (FBR) Tuesday set the target to mount sales tax registrations up to 400,000 people in next three years to eventually boost revenue collection and documentation of economy.
“Around 250,000 people are already registered with FBR’s sales tax net, however only 41,000 were paying the sales tax, which is very low,” said Inland and Revenue (Policy) member Dr Hamid Ateeq Sarwar at the launching ceremony of digital app ‘Tax Assan’. He was accompanied by Member Information Technology (IT) Mehmood Aslam.
Dr Hamid Ateeq said that the FBR could improve performance of sales tax by ensuring the collection from manufacturing and retailers. “We have 100 percent coverage from import sector and the Board has been working on manufacturing and potential retail sector to increase its sales tax base,” he added.
KP govt reduces ratio of sales tax on 28 different services
The Khyber Pakhtunkhwa (KP) government has reduced the ratio of sales tax from 15 to 2 per cent on twenty-eight different services.
According to details, the services on which tax has been reduced include restaurants and wedding halls, catering, construction, salons, advertisements, online cab services, consultant professional services, IT services and goods and transport.
The KP Regulatory Authority has advised consumers to ensure taking authorised invoice while receiving these services.
The consumers can contact on numbers 091-9219202 and 0333-1421423 for information and complaints.
