{"id":17077,"date":"2023-10-23T09:56:05","date_gmt":"2023-10-23T09:56:05","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/fbr-forms-body-to-facilitate-taxpayers-the-express-tribune\/"},"modified":"2023-10-23T09:56:05","modified_gmt":"2023-10-23T09:56:05","slug":"fbr-forms-body-to-facilitate-taxpayers-the-express-tribune","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/fbr-forms-body-to-facilitate-taxpayers-the-express-tribune\/","title":{"rendered":"FBR forms body to facilitate taxpayers | The Express Tribune"},"content":{"rendered":"
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\nISLAMABAD:
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To facilitate taxpayers in submitting their sales tax returns, the Federal Board of Revenue (FBR) has formed a special committee for designing, developing as well as implementing a single portal and divided it into three teams.<\/p>\n

For the FBR and Punjab Revenue Authority, the committee — in the first phase — will design and implement a single portal sales tax return filing system for the telecom sector by October 31.<\/p>\n

In the second phase, for the FBR and all provincial revenue authorities, the body will design and implement a single sales tax return filing portal for all sectors by May 31, 2024.<\/p>\n

According to the document available to The Express Tribune, the special committee set up by the FBR comprises of eight members, who have been further split into three teams.<\/p>\n

The first team will include Sher Salim Tariq, Dr Nasir Khan, and Aamir Amin Bhatti. The second team has been set up to enable sales tax return filing through a single portal.<\/p>\n

Read <\/strong>\u2018Income tax should be universal, not segmented\u2019<\/a><\/p>\n

This team has been established under the leadership of Zainul Abidin Sahi. Other members of this team include Mehwish Khan, Farhan Azhar and Shahid Sharif.<\/p>\n

The third team will include two members — Muhammad Khalid Jameel and Sadia Kamal. To facilitate taxpayers who failed to meet the initial deadline of September 30, the government announced a month\u2019s extension for the filing of income tax returns for the tax year 2023.<\/p>\n

The new deadline of October 31 is aimed at accommodating those individuals, who were unable to submit their returns within the earlier prescribed timeframe.<\/p>\n

This decision came as a step to ensure that taxpayers were given ample opportunity to fulfil their obligation and avoid any potential penalties or legal consequences.<\/p>\n

The FBR received 0.8% more income tax returns<\/a> from salaried, non-salaried individuals, the association of persons and companies for the tax year 2023 by September 30.<\/p>\n

It received 1.890 million returns till the previous deadline as against the 1.875 million returns filed in the same period of tax year 2022.<\/p>\n

The FBR has recently put forward a plan to increase tax collection to Rs13 trillion within two years by elevating the current low tax-to-GDP ratio to 15% by the end of the fiscal year 2025.<\/p>\n

The government has identified a tax gap of Rs5.6 trillion attributed to exemptions and weak compliance.<\/p>\n

The interim government aims to generate an additional Rs5.6 trillion over two years, primarily through indirect taxes, constituting 68% of the plan.<\/p>\n

It was suggested that there was potential to raise sales tax by Rs3 trillion, income tax by Rs1.8 trillion, and customs duty as well as federal excise duty by Rs800 billion.<\/p>\n<\/div>\n