ISLAMABAD: The Federal Board of Revenue (FBR) has Tuesday said its Single Sales Tax Portal (SSTP) for the automation of various processes involved in revenue collection has entered the final stages and will be ready this month.
The FBR notification has said with this automated system, requiring minimum human intervention, will help people across Pakistan file their integrated monthly returns without having to submit six different returns. We will inaugurate the system during the month of Nov, FBR said today.
“FBR has already offered this portal to the provincial revenue authorities in order to facilitate the taxpayers through one-link facility,” an earlier notification on the development by the tax watchdog said.
“Single Sales Tax Portal will also help in simplification of the tax procedures. It will enable the taxpayers to save time and effort, and reduce their compliance costs.”
Separately from the trade spectrum of Pakistan, Beijing-based smartphone manufacturer Xiaomi Inc. has floated plans to manufacture smartphones in Pakistan in collaboration with a local distributor Air Link Communication Limited, said today adviser to Prime Minister of Pakistan for commerce and investment Abdul Razak Dawood.
This is coming to fruition the Make In Pakistan policy, said the PM’s commerce adviser after Xiaomi Inc and AirLink expressed their plans yesterday. They will be extended the production facility in the Quaid e Azam Industrial Estate in Lahore, Dawood said.
Their manufacturing unit will be functional by January 2022 and will mean employment opportunities for about 3,000 people.
