FBR works out plan to increase ST registrations upto 0.4 mln in 3 years


ISLAMABAD, Aug 20 (APP):The Federal Board of Revenue (FBR) Tuesday set the target to mount Sales Tax Registration (STN) upto 400,000 people in next three years to eventually boost revenue collection and documentation of economy.

“Around 250,000 people are already registered with FBR’s sales tax net, however only 41,000 were paying the sales tax, which is very low,” said Member, Inland and Revenue (Policy) FBR, Dr Hamid Ateeq Sarwar at the launching ceremony of digital app ‘Tax Assan’. He was accompanied by Member Information Technology (IT) Mehmood Aslam.

Dr Hamid Ateeq said that the FBR could improve performance of sales tax by ensuring the collection from manufacturing and retailers. “We have 100 percent coverage from import sector and the Board has been working on manufacturing and potential retail sector to increase its sales tax base,”
he added.