SRB Directs Oil, Gas Firms and MFBs to Use Single Sales Tax Return System

• SRB advises oil and gas companies and microfinance banks to file monthly returns using the SSTR system for November 2024
• The directive includes these sectors in the SSTR framework, part of an integrated national portal
• The move aims to simplify tax compliance across federal and provincial jurisdictions including SRB, FBR, PRA, BRA, and KPRA
• SSTR provides a unified platform for filing sales tax returns, reducing the need to file multiple returns with different authorities
• Taxpayers required to use the SSTR include major E&P companies like OGDCL and Mari Petroleum, and microfinance banks such as Khushhali Bank
• SRB urges timely compliance with the SSTR to streamline processes, reduce redundancy, and enhance compliance
• The initiative is part of efforts to modernize tax administration and facilitate business operations
• Taxpayers are advised to review updated procedures on the SSTR portal and use the SRB helpline for assistance
• The adoption of the SSTR system is expected to improve tax collection efficiency and transparency

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.

---

---