The Site Association of Industry (SAI) organised a seminar to understand the procedure and working of e-filing of monthly returns of sales tax and federal excise, launched by the Central Board of Revenue (CBR), at its office here on Wednesday.
Khalid Mehmood, Collector, Sales Tax Headquarters, informed the businessmen from corporate sector that the new system would apply to the returns for November 2005 to be filed by 15th of this month. This facility would initially remain available to the corporate entities that would include all the taxpayers registered with the Large Taxpayer Units (LTU) and the private and public limited companies.
Explaining the procedure, Majid Khan, Additional Collector, Sales Tax, said that the electronic filing of returns is a step forward towards further facilitating the taxpayers, removing the data entry problems and ensuring efficient availability of revenue data from major revenue contributors.
He said that the payment of sales and excise duty, if any, should be made by the taxpayer in any online branch of the National Bank of Pakistan (NBP). The bank will issue a computerised payment receipt to the taxpayer, details of which would be entered on the e-return.
Majid also explained that the CBR Mail Office on receiving e-return would send an electronic acknowledgement to the taxpayer. The system would further be upgraded to become completely web-based in about three months.
An official of Nift Abdul Rafay said that to file their returns electronically, the taxpayers would be required to obtain digital certificate from the Nift by filling the registration form available on the Web site (www.nift.com.pk) on payment of one time registration fee of Rs 5,000.
SAI Chairman Ameen Bandukda thanked Khalid Mehmood for taking out time from his tight schedule and presiding over the seminar.-PR
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