ByBig news for businesses in Pakistan! The Federal Board of Revenue (FBR) is expanding the Single Sales Tax Return (SSTR) to cover even more sectors in 2025.
Here’s what you need to know:
- Who’s affected: Hotels, restaurants, fast food chains, clubs, caterers, digital/IT services, ride-hailing services, manpower recruitment agencies, and franchise services will be required to file SSTRs next year.
- Phased Rollout: Demonstration sessions and User Acceptance Testing (UAT) will be conducted throughout the year for these new sectors.
- Benefits for Businesses: SSTR simplifies tax filing by allowing a single return for both federal and provincial taxes, saving time and resources.
- Eventually for All: The FBR plans to extend SSTR to all sectors eventually, ensuring a more streamlined tax system.
Here are some additional details:
- The FBR previously launched SSTR for the telecom sector in February 2024 and for Oil and Gas companies in November 2024.
- This initiative aims to ease the compliance burden on businesses and promote national tax efficiency.
Stay tuned for further updates on the SSTR rollout and specific timelines for each sector!
