Connect with us

Politics

Memorandum of Understanding signed for a single portal, GST returns on products and services

Avatar

Published

on


ISLAMABAD: In a major development to meet World Bank requirements, the Federal Board of Revenue (FBR) and the four provincial tax authorities signed a Memorandum of Understanding (MoU) to move towards the establishment of a portal / single returns for the general sales tax (GST) on goods and services.

Today, only three differences still exist between the RBF and the provinces, in particular the definition of the services, the origin and the destination of the services and all the stakeholders reiterated that these problems would be resolved amicably. This was a milestone reached today between the RBF and the provinces for the introduction of a single GST return on goods and services, they said. Officials said the National Tax Council is working to build consensus on the definition of goods and services and they have sought proposals from all four provinces, and then the Center would also be incorporated to clearly define goods and services. . They said he hoped all outstanding issues would be resolved by consensus.

Key official sources said the RBF and the provinces agreed to set up a unified portal and that viable returns and solutions would be found to facilitate taxpayers.

Taxpayers used to file five monthly GST returns on goods and services, but now, through harmonization, taxpayers would file a single return on one portal. GST harmonization was one of the main terms of the World Bank loan, but it will also make it easier for taxpayers to file a single GST return instead of five monthly returns.

When contacted, the Prime Minister’s Special Assistant on Income, Dr Waqar Masood, said it was Prime Minister Imran Khan’s vision that had been implemented today. He said that all stakeholders had decided to reach consensus on all issues for the improvement of the tax system in the country.

On behalf of FBR, the MoU was signed by the FBR President while the heads of all provincial tax administrations signed the document on behalf of their respective departments. Representatives from the Khyber Pakhtunkhwa Revenue Authority (KPRA) and Balochistan Revenue Authority (BRA) were physically present at the ceremony while representatives from the Sindh Revenue Board (SRB) and Punjab Revenue Authority (PRA) participated virtually by zoom.

Speaking on the occasion, the Prime Minister’s Special Assistant on Income, Dr Waqar Masood Khan, said the signing of the document was another step towards the completion of the Prime Minister’s vision of making the Fully automated RBF. This step will facilitate the task of taxpayers and will greatly contribute to improving the country’s position on the ease of doing business index, ”he added.

SAPM on Revenue further added that now people associated with businesses would only have to file one sales tax return instead of multiple returns. He added that this step would help simplify the tax system and procedure. He showed his commitment that other issues that currently exist between the RBF and the provincial tax authorities would soon be resolved, which would make the business world even easier. FBR Chairman said that facilitating this MoU would make it easier for taxpayers and lead to a simplification of the tax system and related procedures. SAPM on Revenue congratulated the Chairman of the RBF, the heads of provincial tax administrations and the RBF Policy Wing team for taking this important step.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos



picture credit

ExBUlletin

to request, modification Contact us at Here or [email protected]