Business

FBR to launch automated system for e-filing of sales tax returns

ISLAMABAD: Federal Board of Revenue (FBR) intends to launch a modified automated system for electronic filing of sales tax and federal excise returns.

According to FBR’s website, the revenue board made the decision in order to facilitate tax payers and for resolving the issues arising out of post-return cross-matching of declarations.

The system requires early submission of sales invoice data enabling the buyers to claim input against the same, FBR stated.

The revenue board also stated, “The system shall eliminate the post-return input discrepancies, which presently cause a great hassle for the department and taxpayers.”

The state tax body added that the proposed system will lead to the returns being considered a complete refund claim and thus also expedite refund payment process.

Comments

comments

Copyright © 2016 ARYNEWS.tv

To Top