ISLAMABAD: The Federal Board of Revenue (FBR) and the Khyber Pakhtunkhwa Revenue Authority (KPRA), on Friday, agreed to share data and evolve mechanism on agriculture income/tax to maximise revenue potential.

KP Minister for Finance Taimur Saleem Khan Jhagra called on Chairman Federal Board of Revenue Dr Muhammad Ashfaq Ahmed, on Friday, here at FBR HQ.

Zafar Ali Shah, senior member KP Board of Revenue and Anum Saeed, senior associate, also attended the meeting. During the meeting, the matters of mutual interest between FBR and KPRA were discussed. It was agreed in the meeting that both revenue collecting agencies would share data and information for realization of maximum revenue.

The FBR and KPRA would evolve meaningful mechanism on Agriculture Income/tax to maximize revenue potential. Both sides agreed to iron out differences pertaining to Sales Tax on services related to four important sectors including construction, restaurants, transport and communication and toll manufacturing.

The KP finance minister hoped that both the FBR and the KPRA would develop an enduring system to build close cooperation for the purpose of identifying potential taxpayers and increasing revenue. The chairman FBR reiterated his commitment to develop a close working relationship between the FBR and the KPRA.

Copyright Business Recorder, 2021