The Khyber Pakhtunkhwa Revenue Authority (KPRA) facilitated a comprehensive one-day training workshop on the Automated Deduction of K-P Sales Tax on Services through the Financial Accounting and Budgeting System (FABS).
Held at a Peshawar hotel, the event received financial backing from the World Bank-funded KPRMP project. Trainers from FABS delivered an in-depth presentation, elucidating the intricacies of the FABS system concerning the automatic deduction of KP Sales Tax on Services.
This was complemented by an extensive question-and-answer session, where both trainers and officials from KPRA engaged with the participants to address queries and concerns.
Director General KPRA, Fouzia Iqbal, extended gratitude to the officials of the Accountant General of Pakistan, KPRMP, and FABS for their collaborative efforts in making the workshop possible.
In her address, she underscored the significance of integrating K-P Sales Tax on Services into the FABS system, viewing it as a notable milestone for KPRA. She emphasized the potential of this advancement to streamline tax collection processes, minimize errors, and ultimately enhance revenue generation for KPRA.
Iqbal also commended the Accountant General of Pakistan for their active involvement in the integration process, assuring continued support from KPRA in addressing any issues that may arise.
Advisor KPRA on Tax Enforcement, Fazal Amin Shah, extended a warm welcome to the officials from the AG office and expressed optimism for seamless cooperation in the future. He responded to participants’ queries in detail and pledged to facilitate a meeting between KPRA, FABS, and AG Office officials to address any potential shortcomings in the system.
Shah highlighted the collaborative nature of the effort, emphasizing its potential to bolster economic documentation, reduce errors, and optimize revenue collection processes, particularly in the service sector of Khyber Pakhtunkhwa. Through joint efforts, he envisioned a smoother payment flow to contractors, ultimately contributing to the overall economic development of the region.
Published in The Express Tribune, March 7th, 2024.
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ