Published On: Tue, May 10th, 2016

FBR to launch new system for e filing in Pakistan

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New system for e filing in PakistanThe government has decided to launch an automated new system for e filing in Pakistan of sales tax and federal excise returns to facilitate taxpayers. The new system will be put in place from July 1.

The current system is causing problems in post-return cross-matching of declarations.

An official announcement of the FBR said that the new system will require early submission of sales invoice data, enabling buyers to claim input against the same.

The system will eliminate post-return input discrepancies, which presently cause inconvenience. It will also reduce substantially department’s contact with registered persons.

The proposed system shall also lead to the returns being considered a complete refund claim and thus also expedite refund payment process.

The FBR has also sought feedback from all registered persons, representatives of chambers of commerce and industry, traders/business associations, tax bar associations on the proposed system.

Currently, the automated system verifies credit subsequent to filing; mismatching anomalies due to data feeding errors.

According to the FBR, the proposed system for self-processing of sales tax declarations shall ensure declaration of all transactions, filing of returns, payment of due tax at the time of filing of returns and processing by taxpayers.

All registered persons will require filing sales annexure by 10th of the return filing month. The data of supplies will be immediately available to all respective buyers.

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- An enthusiast working in Dubai as an Assistant Operations Manager. Writing about Pakistan and the latest happenings, trends around the globe is my passion. A dreamer, learner and a major foodie.