What is level of preparedness of FBR in VAT implementation?
Introduction of VAT in Pakistan being already overdue, FBR is fast preparing itself to replace the existing sales tax system with VAT with effect from 1st July, 2010. In this regard, necessary measures are being taken to increase FBR’s infrastructural and operational capacity to undertake its VAT–related functions and responsibilities. Pakistan is a fortunate country that it has a over 20 years’ experience of VAT-like sales tax management and adoption of pure VAT in Pakistan in lieu of existing sales tax is not likely to pose any unforeseen problem for its tax machinery.
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