ISLAMABAD: The Federal Board of Revenue (FBR) has launched a single identifier number for all domestic taxes. Under this initiative, a taxpayer can use all applications under the income tax, sales tax and federal excise duty by mere use of CNIC, if a taxpayer is an individual.
In case of partnership firms and companies, National Tax Number (NTN) shall be the common tax identifier number. In this manner the sales tax, income tax and federal excise law have been harmonised.
This is an important step toward ease of doing business and will substantially improve Pakistan's rating on this count.
The FBR has also launched a facility whereby, taxpayers can now make payments without visiting the bank. This facility is widely known as Alternate Delivery Channel (ADC) payment mode.
The ADC allows taxpayer to pay all federal taxes and duties i.e. income tax, sales tax, customs duty and federal excise duty from any commercial bank account through internet banking, ATM, mobile banking and Contact Centers.
However, in the case of individual taxpayer, the alternate facility of making the payment over the counter (OTC) has still been allowed simultaneously along with ADC channel till 30th September 2021, so that no inconvenience is caused to the individual taxpayer for seamless filing of returns.
Copyright Business Recorder, 2021
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