In an attempt to promote investment in the Green Field Industry and facilitate individuals who want to invest in this sector, the Federal Board of Revenue (FBR) has launched an online portal in Iris that will facilitate the application filing process for the grant of Green Field Industry Status.
The regulatory authority took to twitter to announce the launch of the portal and wrote that “To this end, two separate applications have been provided under the Income Tax Ordinance, 2001 and Sales Tax Act, 1990”.
To promote investment in the Green Field Industry and to facilitate such investors, Federal Board of Revenue (FBR) has launched online module in Iris for facilitating filing of applications for the grant of Green Field Industry Status.1/4— FBR (@FBRSpokesperson) December 16, 2020
The thread continued saying, “Faceless compliance and facilitation through the use of ICT tools is a priority agenda of FBR as per the Vision of the Present government. FBR is moving fast to accomplish this vision as a leader in developing and launching such faceless compliance tools for facilitation of the taxpayers”.
Faceless compliance and facilitation through the use of ICT tools is a priority agenda of FBR as per the Vision of the Present government. 3/4— FBR (@FBRSpokesperson) December 16, 2020
The board has also been making efforts to improve the tax collection process in the country by facilitating the consumers. The regulatory authority collected a total of PKR22 billion, making it the largest income tax amount historically collected as the tax filing session concluded on December 8, 2020.
These figures can be considered as double compared to last year when the board collected a total of PKR13.5 billion in income tax head.
The board had earlier launched online submissions method to facilitate the tax filers and also allowed the tax advisors to file multiple tax files in a single plea.
