Tax Talks

LAHORE: The Punjab Revenue Authority (PRA) has extended the scope of its single sales tax return to two additional sectors.

According to the spokesperson, the facility has now been extended to the oil and gas sector and microfinance banking sector.

Initially, in February this year, the system simplified sales tax return filing compliance by allowing taxpayers to file a single return on the portal instead of submitting five separate returns before different provincial revenue authorities and FBR. Implemented as a pilot project in the telecommunication sector, the collaborative initiative has now been expanded, he said.

Furthermore, the scope of SSTR will be extended to all other remaining sectors operating on trans-provincial basis in phases for the facilitation of these sectors and next in line are banking and insurance sectors.

Source: Business Recorder, 2024