Sindh Revenue Board (SRB) has taken a pivotal step towards simplifying tax compliance by expanding the scope of the Single Sales Tax Return system to the banking and insurance sectors.
In collaboration with the Federal Board of Revenue (FBR) and Pakistan Revenue Automation Limited (PRAL), SRB held an orientation workshop at its headquarters in Karachi. The event brought together over 200 tax experts from the banking and insurance industries, along with representatives from other provincial revenue authorities, both in-person and online.
The initiative was widely praised by participants, who lauded SRB’s efforts to streamline the tax filing process and its inclusive approach in engaging all stakeholders before launching this important milestone for sales tax on services.
The workshop featured a comprehensive presentation by Mr. Faisal Sulaiman, Senior System Analyst and Manager SA&D at PRAL, followed by an interactive Q&A session.
This session addressed key concerns and clarified the new system’s functionality, offering a platform for participants to voice their queries. SRB reaffirmed its commitment to ensuring the successful implementation and expansion of the single sales tax return system.
The initiative aims to enhance taxpayer facilitation by eliminating the need to file returns in multiple jurisdictions. By streamlining tax filing processes, SRB seeks to improve the ease of doing business and foster compliance across various sectors.
The introduction of this unified system represents a major step toward modernizing tax administration and reducing administrative burdens for businesses, reflecting SRB’s dedication to efficient and transparent tax practices.
