Each company or taxpayer will pay an annual fee of Rs 4,500 to National Institutional Facilitation Technologies (Pvt) Limited, Karachi, for obtaining ''digital certificate'' to electronically file income tax returns using ''digital signature''. The CBR has finalised arrangements for the launching of electronic filing of returns for the ''tax year 2005''.
Sources told Business Recorder on Monday that the Central Board of Revenue (CBR) and NFIT had inked an agreement under which the NIFT has been permitted to issue ''digital certificates'' to the taxpayers so that they can legally file their income tax returns in the electronic format. This would also help the taxpayers in electronic filing of other transactions, including electronic filing of sales tax returns.
Under the agreement, NIFT will charge an yearly licence fee of Rs 4,500 (exclusive of taxes) for each ''Class 2 digital certificate'' issued under the ''VerSign Trust Network'' and a onetime fee of Rs 500 for validation services. This network is a global trust network to authenticate digital signature.
It has been agreed between CBR and NIFT that the ''certificate'' licence fee of Rs 4,500 has been fixed for a package of ''500 Class 2 Digital Certificates''. In case the number of certificates increased the package, then the fee for the next package would be charged, with a discount of 15 percent.
NFIT will establish a MPKI (Managed Public Key Infrastructure) specifically for CBR from which ''digital certificates'' will be issued to end-users. These certificates will be exclusively used for filing of tax returns and other electronic transactions between the CBR and the taxpayers.
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