Federal Minister for Finance and Revenue, Miftah Ismail has said that to have ease of doing business, harmonization of general sales tax (GST) is important during a meeting of the National Tax Council (NTC) at the Finance Division on Thursday.
The meeting reviewed the progress on the decisions of the last meetings of the NTC on the harmonization of GST across the country. The Chair directed all the stakeholders to work out a mechanism for achieving the very purpose of GST harmonization.
Chairman FBR shared in the meeting that a single portal has been developed and activated. The provinces may facilitate taxpayers for filing a single return.
During the meeting, it was decided that the collection of GST on restaurants/hotels and construction services may be given to provinces. However, the taxation on toll manufacturing and sales tax on goods used in construction shall be subject to FBR. It was also decided that the existing mechanism of taxation on transportation of Petroleum products shall remain as usual.
All stakeholders agreed to proceed ahead in the spirit of greater national interest and harmony under the umbrella of NTC.
Finance Minister KPK Mr. Taimur Saleem Khan Jhagra, Secretary Finance, Chairman FBR, Provincial Finance Secretaries and Chairpersons of Provincial Revenue Authorities attended the meeting.
