PESHAWAR: Khyber Pakhtunkhwa Revenue Authority Director General Fouzia Iqbal said automated deduction of sales tax will eliminate errors as the tax will be automatically deducted and submitted to the authority.
She was speaking at a workshop on automated deduction of sales tax on services through the Financial Accounting and Budgeting System (FABS) organized for officials of Accountant General of Pakistan.
Ms Iqbal shed light on the integration of KP sales tax on services in the FABS system, emphasizing that it marks a significant milestone for KPRA and a memorable day.
“It is another step towards the automation of KP sales tax on services. This advancement will eliminate errors, as the tax will be automatically deducted and submitted to KPRA. We anticipate an increase in revenue from the AG office,” she stated.
The workshop was arranged with the financial assistance of the World Bank-funded KPRMP project. Trainers from FABS provided a detailed presentation on the workings of FABS in relation to the automatic deduction of sales tax on services.
Adviser KPRA on tax enforcement Fazal Amin Shah said the workshop would help concerned officers to overcome any shortcomings in the system.
“This collaborative effort will contribute to documenting the overall economy, reducing errors, and increasing sales tax on services in KP, facilitating a smoother payment flow to contractors,” he said.