ByFiling taxes just got easier for Pakistan’s telecom companies! The Federal Board of Revenue (FBR) has launched a Single Sales Tax Portal, simplifying the process and promoting ease of doing business.
What’s New?
- One Portal, One Return: As of January 2024, telecom companies must file their sales tax returns exclusively through the new portal (www.iris.fbr.gov.pk). No more juggling multiple submissions!
- Goodbye, Duplicate Data: Upload invoices directly for January 2024, streamlining the single return filing process.
- Efficiency Boost: Say goodbye to tedious procedures and errors! The portal aims to simplify tax filing and provide a centralized platform for telecom tax information.
Why the Change?
The FBR’s initiative aims to:
- Make life easier for taxpayers: Reduce compliance costs and save time with a single platform.
- Improve tax administration: Streamline processes, minimize errors, and ensure transparency.
- Promote business growth: Create a more conducive environment for telecom companies to operate.
Who’s Impacted?
This initial phase targets major telecom players like CMPak, Pakistan Mobile Communications, Pak Telecom Mobile, Telenor Pakistan, and Pakistan Telecommunication Company. The single return applies to the January 2024 tax period, with filing due in February 2024.
Ready, Set, File!
The FBR encourages telecom companies to familiarize themselves with the new system and upload January 2024 invoices as soon as possible for a smooth transition.
Remember:
- This is a positive step towards simplifying tax filing for the telecom sector.
- The single portal provides a centralized platform for tax information and reduces compliance burdens.
- Telecom companies should familiarize themselves with the new system and ensure timely filing through the portal.
By embracing this change, the telecom sector can contribute to a more efficient and transparent tax system, ultimately benefiting both businesses and the nation’s economy.
