By Commerce Reporter
LAHORE: The Punjab Revenue Authority (PRA) has taken a significant step toward expanding the scope of the Single Sales Tax Return. An orientation workshop was organized for representatives from the insurance & banking sector where representatives from Federal Board of Revenue (FBR) and other industries discussed the extension of this facility to additional sectors. During the session, PRA announced that the Single Sales Tax Return, initially introduced in February of the last fiscal year and limited to the telecommunications sector, has now been extended to the oil and gas sector and microfinance banks and now it is planned to be extended to Banking sector and Insurance sector. This system allows taxpayers operating on trans-provincial level to file their returns through a single portal eliminating the need to file return before multiple jurisdictions.
Read more: PRA registers revenue growth of 16.16% in December
The PRA, in coordination with the FBR and all provincial revenue authorities, has agreed to further expand the system to other relevant sectors, with efforts underway to make this facility widely accessible. The workshop was also attended by prominent FBR and PRAL officers including Aamir Amon Bhatti, Chief Provincial Taxes FBR, Saadia Akmal (Additional Director, Pakistan Raises Revenue) FBR, Abid Naeem, GM SD, PRAL, Ms Farheen Azhar Head of Commercial Projects PRAL, Faisal Sulaiman Sr System Analyst PRAL. Punjab Revenue Authority was represented by Dr. Javed Iqbal (Member Policy & Operations PRA), Ms Attiya Ali Khan (Member IT & Taxpayer Facilitation and Education), Ms Misbah Nawaz, Commissioner Lahore PRA and Ms Rukhsana Arif, ADC Lahore Commissionerate . Over 100 participants from banking and insurance sectors and other Provincial Revenue Authorities joined the session virtually. The presentation was made by Faisal Sulaiman followed by a detailed question answer session. Through the orientation session PRA reaffirmed its commitment to taxpayers facilitation and coordination with other revenue authorities.
