- FBR unveiled Single Sales Tax Return (SSTR) for key sectors in Pakistan
- Aimed at simplifying tax compliance regime and enhancing transparency
- Sectors included in the demonstration were Oil and Gas, E&P companies, and Microfinance Banking
- Representatives from leading microfinance banks and oil and gas industry participated in the session
- Technical experts from various FBR wings conducted an in-depth technical session on SSTR functionalities
- Success of SSTR implementation in the telecom sector has led to plans for expansion to other sectors
- Harmonized approach expected to enhance efficiency and offer a seamless experience for businesses
- Introduction of SSTR for key sectors seen as a crucial step towards aligning Pakistan’s tax system with global best practices.
Source: pkrevenue.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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