ISLAMABAD - Federal Minister for Finance and Revenue Miftah Ismail held a meeting on National Tax Council to review the progress on the decisions of the last meetings of the NTC on harmonisation of GST across the country.
Finance Minister KP Taimur Saleem Khan Jhagra, secretary Finance, chairman FBR, provincial finance secretaries and chairpersons of provincial revenue authorities attended the meeting. The meeting reviewed the progress on the decisions of the last meetings of the NTC on harmonization of GST across the country. The finance minister shared that in order to have ease of doing business, harmonization of GST is important. The chair directed all the stakeholders to work out a mechanism for achieving the very purpose of GST harmonization.
Chairman FBR shared in the meeting that single portal has been developed and activated. The provinces may facilitate tax payers for filing single return. During the meeting, it was decided that collection of GST on restaurants/hotels and on construction services may be given to provinces. However, the taxation on toll manufacturing and sales tax on goods used in construction shall be subject of FBR. It was also decided that existing mechanism of taxation on transportation of Petroleum products shall remain as usual. All stakeholders agreed to proceed ahead in the spirit of greater national interest and harmony under the umbrella of National Tax Council (NTC).
Meanwhile, Federal Minister for Finance and Revenue Miftah Ismail held a meeting with Chief Minister Gilgit-Baltistan Khalid Khursheed. The Chief Minister Gilgit - Baltistan apprised the finance minister on the developments in the public welfare projects being carried out in Gilgit-Baltistan and financial requirements of the GB administration for the timely completion of these projects to ensure good governance in the area. The finance minister expressed present government’s commitment for the development and progress of all provinces including Gilgit-Baltistan. He also stressed for utilization of tourism potential in this region as it will not only enhance the revenues of the country but also will portray beautiful image of the country all over the world. The finance minister extended full support of the present government for the development of the GB on priority basis.
Finance Minister KP Taimur Saleem Khan Jhagra, secretary Finance, chairman FBR, provincial finance secretaries and chairpersons of provincial revenue authorities attended the meeting. The meeting reviewed the progress on the decisions of the last meetings of the NTC on harmonization of GST across the country. The finance minister shared that in order to have ease of doing business, harmonization of GST is important. The chair directed all the stakeholders to work out a mechanism for achieving the very purpose of GST harmonization.
Chairman FBR shared in the meeting that single portal has been developed and activated. The provinces may facilitate tax payers for filing single return. During the meeting, it was decided that collection of GST on restaurants/hotels and on construction services may be given to provinces. However, the taxation on toll manufacturing and sales tax on goods used in construction shall be subject of FBR. It was also decided that existing mechanism of taxation on transportation of Petroleum products shall remain as usual. All stakeholders agreed to proceed ahead in the spirit of greater national interest and harmony under the umbrella of National Tax Council (NTC).
Meanwhile, Federal Minister for Finance and Revenue Miftah Ismail held a meeting with Chief Minister Gilgit-Baltistan Khalid Khursheed. The Chief Minister Gilgit - Baltistan apprised the finance minister on the developments in the public welfare projects being carried out in Gilgit-Baltistan and financial requirements of the GB administration for the timely completion of these projects to ensure good governance in the area. The finance minister expressed present government’s commitment for the development and progress of all provinces including Gilgit-Baltistan. He also stressed for utilization of tourism potential in this region as it will not only enhance the revenues of the country but also will portray beautiful image of the country all over the world. The finance minister extended full support of the present government for the development of the GB on priority basis.
