AIRLINK 74.05 Increased By ▲ 1.05 (1.44%)
BOP 5.35 No Change ▼ 0.00 (0%)
CNERGY 4.33 Increased By ▲ 0.02 (0.46%)
DFML 27.80 Decreased By ▼ -0.75 (-2.63%)
DGKC 78.12 Increased By ▲ 3.83 (5.16%)
FCCL 20.66 Increased By ▲ 0.31 (1.52%)
FFBL 31.80 Increased By ▲ 0.90 (2.91%)
FFL 10.20 Increased By ▲ 0.14 (1.39%)
GGL 10.51 Increased By ▲ 0.12 (1.15%)
HBL 117.10 Increased By ▲ 1.13 (0.97%)
HUBC 135.00 Increased By ▲ 2.80 (2.12%)
HUMNL 6.80 Increased By ▲ 0.12 (1.8%)
KEL 4.16 Increased By ▲ 0.13 (3.23%)
KOSM 4.80 Increased By ▲ 0.20 (4.35%)
MLCF 39.25 Increased By ▲ 0.71 (1.84%)
OGDC 135.28 Increased By ▲ 1.43 (1.07%)
PAEL 23.65 Decreased By ▼ -0.18 (-0.76%)
PIAA 26.82 Decreased By ▼ -0.31 (-1.14%)
PIBTL 6.92 Increased By ▲ 0.16 (2.37%)
PPL 114.27 Increased By ▲ 1.47 (1.3%)
PRL 27.85 Decreased By ▼ -0.31 (-1.1%)
PTC 14.59 Decreased By ▼ -0.30 (-2.01%)
SEARL 56.50 Increased By ▲ 0.08 (0.14%)
SNGP 65.80 No Change ▼ 0.00 (0%)
SSGC 11.04 Increased By ▲ 0.03 (0.27%)
TELE 9.06 Increased By ▲ 0.04 (0.44%)
TPLP 11.87 Decreased By ▼ -0.03 (-0.25%)
TRG 69.80 Increased By ▲ 0.70 (1.01%)
UNITY 23.70 Decreased By ▼ -0.01 (-0.04%)
WTL 1.34 Increased By ▲ 0.01 (0.75%)
BR100 7,507 Increased By 72.8 (0.98%)
BR30 24,521 Increased By 301.7 (1.25%)
KSE100 72,168 Increased By 808.8 (1.13%)
KSE30 23,846 Increased By 278.9 (1.18%)

The Federal Board of Revenue is planning to implement the "E-FBR New Virtual Setup" to totally automate registration, monitoring and tax payments of the new taxpayers without any interaction with the tax department. A senior FBR Member told Business Recorder that the government is introducing reforms in the tax machinery to end direct interaction between the FBR and the taxpayers. A plan is under way to implement the "E-FBR New Virtual Setup" under which jurisdiction of the new taxpayers would be available with the FBR. The field formations would not be allowed to deal with these new taxpayers, whose jurisdiction has been assigned with the Board.
Under the e-FBR setup, the FBR will not ask questions from the new taxpayers for 1 or 2 years unless some serious discrepancy has been detected through the automated system. Under a single portal, all the taxpayers would be provided a common platform and hyper link to file federal and provincial sales tax returns from next month. The FBR and provinces have agreed in this regard, he added.
The FBR and provinces have agreed on an integrated sales tax return for filing though a single portal in future, official said. Federal Board of Revenue (FBR) Chairman Syed Shabbar Zaidi has already barred his field formations from conducting raids on any premises of any exiting taxpayer businesses without prior approval of the FBR member Inland Revenue Operations and FBR chairman.
There will be no suspension from Active Taxpayer List unless there is a personal interaction with the CEO/owner of the business 24 hours before suspension. List of all cases of suspension after suspension will be sent to the FBR chairman and FBR Member IR Operations with reasons of suspension and evidence of personal interaction.
Therefore, the FBR has also decided that the names of the taxpayers appearing on the Active Taxpayer List should not be de-listed without fulfillment of the said process, he said.

Copyright Business Recorder, 2019

Comments

Comments are closed.