The Federal Board of Revenue (FBR) has introduced a single sales tax return for the telecom sector, effective from January 2024. Telecom companies are required to file their sales tax returns for the tax period of January 2024 via the newly launched Single Sales Tax Portal by February 2024.
This initiative aligns with the government’s aim to facilitate taxpayers, enhance ease of doing business, and reduce compliance costs for businesses operating in the telecom sector.
Commencing from January 2024, telecom companies are mandated to utilise the newly established Single Sales Tax Portal for filing their sales tax returns, as the previous method will no longer be available.
The FBR has facilitated the process by enabling the uploading of sales tax invoices for January 2024, simplifying the filing of a single return through the designated portal.
This strategic move underscores the FBR’s commitment to simplifying tax procedures, reducing errors, and providing a centralised platform for accessing pertinent tax information.
The Single Sales Tax Portal enables sales tax registered individuals in the telecom sector to submit a unified sales tax return, eliminating the requirement for separate submissions to the FBR and Provincial Sales Tax Authorities.
Initially launched for key players in the telecom sector, including M/S CMPak Limited, M/S Pakistan Mobile Communications Limited, M/S Pak Telecom Mobile Limited, M/S Telenor Pakistan (Pvt.) Limited, and M/S Pakistan Telecommunication Company, the single sales tax return applies to the tax period of January 2024, with filing scheduled for February 2024.
To ensure a seamless transition, the FBR has advised entities in the telecom sector to acquaint themselves with the new system, emphasising that the uploading of sales tax invoices for January 2024 has been enabled.
This initiative marks a significant step towards modernising tax procedures and fostering greater efficiency in the telecom sector’s compliance with tax regulations.
