March 22, 2019: The Federal Board of Revenue (FBR) held a number of sessions in Karachi and Lahore for the leading tax consultants, tax managers and businessmen to create awareness about recent tax reforms undertaken by the board for ease of doing business.
These reforms contain number of facilities introduced by FBR for the medium and small sized companies, including payment of income tax, sales tax and custom duty online through Alternate Delivery Channel (ADC).
According to FBR statement issued here, 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).
Another reform undertaken by FBR is the introduction of Virtual One Stop Shop (VOSS) whereby a company and its directors get registered with FBR by getting NTN at the time of registration of company with Securities and Exchange Commission of Pakistan (SECP).
The participants were apprised about these reforms which have been introduced with the partnership of SECP, EOBI, Punjab Employees Social Security Institution (PESSI) and Sindh Employees Social Security Institution (SESSI).
