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




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.

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