Shaukat Tareen has allowed the provinces to continue collecting taxes
Finance Minister Shaukat Tareen has allowed the provinces to continue collecting taxes from restaurants and transporters.
A meeting of the National Tax Council was held under the chairmanship of Finance Minister Shaukat Tareen, which was attended by officials from all four provinces and FBR.
In the meeting, Chairman FBR gave a detailed briefing to the participants on GST issues, after which the provincial finance ministers also presented their valuable views.
The meeting also discussed the filing of single portal sales tax returns effective from October.
The Federal Minister for Finance said that “consensus on sales tax matters between the federation and the provinces is very important, there should be effective cooperation between the federation and its units on tax matters”.
The FBR was directed to prepare standard income tax returns in consultation with the provinces.
The Finance Minister allowed the provinces to continue collecting taxes from restaurants and transporters.
After the meeting, a statement was issued stating that sales tax on toll manufacturing would be collected by the federation while transportation business and construction taxes would be vested in the provinces. According to the statement, a technical committee has been set up to enhance operational matters and mutual co-operation, which will report directly to the finance minister.
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