New Feature in FBR IRIS Portal for Balance Sheet Approval

The Federal Board of Revenue (FBR) of Pakistan has introduced a new feature in the IRIS portal to improve efficiency in sales tax return filing. This update addresses a common hurdle faced by taxpayers: the delay in processing returns due to unapproved balance sheets.

Understanding the Challenge:

Previously, taxpayers who submitted their balance sheets (a mandatory requirement under SRO 350) often faced delays in return processing because the officer responsible for approval wasn’t clearly identified. This lack of ownership led to unreviewed balance sheets, causing a backlog and hindering timely return filing.

The Solution: Assigning a Responsible Officer

The new feature in the IRIS portal tackles this issue by assigning a specific officer to review and approve each submitted balance sheet. This assignment is linked to the taxpayer’s login, ensuring transparency and accountability.

How it Works:

  1. Taxpayer Submits Balance Sheet: The taxpayer submits their balance sheet electronically through the IRIS portal.
  2. Request for Approval: A new option appears in the Sales Tax Return form titled “Request to Allow Sales Tax Return Filing.” This option allows the taxpayer to formally request approval of their submitted balance sheet.
  3. Officer Assignment and Notification: Upon selecting this option, the system automatically assigns the responsible officer based on the taxpayer’s login. The officer receives an email notification and can access the submitted balance sheet for review.
  4. Balance Sheet Approval: The assigned officer reviews the balance sheet and approves it if found satisfactory. This approval is reflected in the taxpayer’s portal.
  5. Return Filing Enabled: Once the balance sheet is approved, the taxpayer can proceed with filing their Sales Tax Return without any restrictions.

Benefits:

  • Faster Return Processing: Clear assignment of responsibility streamlines the balance sheet approval process, leading to quicker return processing for taxpayers.
  • Improved Transparency: Taxpayers are now aware of the officer responsible for reviewing their balance sheet.
  • Enhanced Accountability: Assigned officers are notified of pending reviews, ensuring timely action.
  • Reduced Delays: By addressing the unapproved balance sheet issue, overall delays in return filing are minimized.

Conclusion:

This new feature in the FBR IRIS portal is a welcome step towards a more efficient and transparent tax filing system in Pakistan. By assigning clear ownership for balance sheet approval, the FBR aims to expedite return processing and improve the overall taxpayer experience.

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