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FBR holds awareness sessions on Tax Reforms

Our Special Correspondent

LAHORE:Federal Board of Revenue has held a session in Lahore for the leading tax consultants, tax managers and businessmen to create awareness about recent tax reforms undertaken by the FBR for ease of
doing business.

The participants also included officers from Punjab Information Technology Board (PITB), Punjab Employees Social Security Institution (PESSI), Punjab Revenue Authority (PRA), and Planning and Development Board (P&D).

These reforms contain number of facilities introduced by FBR for the medium and small sized companies which include payment of income tax,
sales tax and custom duty online through Alternate Delivery Channel (ADC). ADC includes payment through ATM, mobile banking and online banking. Online payments of pension contributions and social security
contributions have also been introduced by Employees Old-Age Benefits Institution (EOBI) and Punjab Employees Social Security Institution (PESSI).

The participants were briefed that the introduction of Virtual One Stop Shop (VOSS) which enabled the company and its directors to get registered with FBR by getting NTN at the time of registration of company with Securities and Exchange Commission of Pakistan (SECP).

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