Pakistan’s Federal Board of Revenue (FBR) has launched its National Sales Tax Return (NSTR). Federal Minister for Finance and Revenue Shaukat Fayaz Ahmed Tarin presided over the launch ceremony in Islamabad.
Previously, taxpayers had to file separate monthly sales tax returns with each collection authority. A telecommunications provider operating across Pakistan, for example, had to report to the FBR and the provincial revenue authorities.
The new system will serve as a single repository for domestic transactions and invoice management. It will automatically apportion input tax, prepare the return and calculate the amount payable to each relevant authority.
