Islamabad June 9 2022: Federal Minister for Finance and Revenue Mr. Miftah Ismail held a meeting on National Tax Council at Finance Division today.
Finance Minister KPK Mr. 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).