The Federal Board of Revenue (FBR) would invite international VAT experts to the next meeting of federal and provincial finance secretaries on December 17-18 to review around 100 amendments proposed in the Reformed General Sales Tax, clarifying procedural and technical issues, it is learnt.
The next meeting of federal and provincial finance secretaries is likely to take place on December 17-18 to hammer out differences on Reformed GST. Sources said international VAT experts would guide the federal and provincial governments on the technical issues on RGST Bill 2010. The issues pertaining to origin of services cross border transactions and input tax adjustment would also be clarified by the experts.
Questions raised by provincial representatives on GST would be dully responded by VAT experts taking into account the best international practices. International VAT experts would clearly address issues of supply of services, origin of services, location of service supplier, tax adjustment and other legal issues for proper collection of sales tax on telecom services. The integrated working of the federal and provincial GST laws to avoid overlapping would also be explained by the experts. The laws would be finalised based on the recommendations of VAT experts.
Some issues need to be clarified pertaining to federal and provincial GST laws which would be discussed threadbare by the VAT experts and the federal law would be finalised in the light of their opinions, an official said. They said so far around 100 amendments pertaining to procedural practical aspects have been proposed in the federal RGST law. The provincial RGST laws would be taken into consideration after the finalisation of federal legislation on sale tax on services. As the provincial RGST laws would be prepared on the basis of federal law, it is important that all the concerns of the provinces are removed.
Comments
Comments are closed.