{"id":57830,"date":"2019-11-21T12:01:14","date_gmt":"2019-11-21T07:01:14","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=57830"},"modified":"2019-11-21T12:01:14","modified_gmt":"2019-11-21T07:01:14","slug":"fbr-shift-from-gst-to-vat-collection-model","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbr-shift-from-gst-to-vat-collection-model.html","title":{"rendered":"FBR to shift from GST to VAT collection model"},"content":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) has announced its intention to replace its existing General Sales Tax (GST) collection framework with a Value Added Tax (VAT) collection mechanism, a news source reported. Further, the taxation authority plans to collect VAT from all sectors of the national economy in order to fulfill the loan grant requirements communicated by the World Bank (WB).<\/p>\n<p><strong>Read:\u00a0<\/strong><a href=\"https:\/\/www.zameen.com\/news\/fbr-attempting-to-obtain-financial-transactions-data-banks.html\" target=\"_blank\" rel=\"noopener noreferrer\">FBR attempting to obtain financial transactions data from banks<\/a><\/p>\n<p>As per officials, the FBR would take up the matter with stakeholders after the establishment of the Pakistan Revenue Authority (PRA). They said that the federal institution would conduct assessment surveys of various industrial sectors under the proposed reform plan.<\/p>\n<p>FBR Chairman Shabbar Zaidi recently stated that the board sought a full-fledged implementation of the proposed VAT collection mode in order include all sectors of the economy in the national tax system.<\/p>\n<p><strong>Read:\u00a0<\/strong><a href=\"https:\/\/www.zameen.com\/news\/consultative-committees-formed-restructure-fbr.html\" target=\"_blank\" rel=\"noopener noreferrer\">Consultative committees formed to restructure FBR<\/a><\/p>\n<p>He also revealed that FBR had enforced the <a href=\"https:\/\/www.zameen.com\/news\/fbrs-cnic-condition-for-traders-to-remain-in-effect-zaidi.html\" target=\"_blank\" rel=\"noopener noreferrer\">Computerised National Identity Card (CNIC) condition <\/a>in a bid to implement the VAT system. Further, he maintained that all of these reforms were part of FBR\u2019s overall structural overhaul.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Federal Board of Revenue (FBR) has announced its intention to replace its existing General Sales Tax (GST) collection framework with a Value Added Tax (VAT) collection mechanism, a news source reported. Further, the taxation authority plans to collect VAT from all sectors of the national economy in order to fulfill the loan grant requirements communicated by the World Bank (WB). Read:\u00a0FBR attempting to obtain financial transactions data from banks As per officials, the FBR would take up the matter with stakeholders after the establishment of the Pakistan Revenue Authority (PRA). They said that the federal institution would conduct assessment surveys of various industrial sectors under the proposed reform plan. FBR Chairman Shabbar Zaidi recently stated that the board sought a full-fledged implementation of the proposed VAT collection mode in order include all sectors of the economy in the national tax system. Read:\u00a0Consultative committees formed to restructure FBR He also revealed that FBR had enforced the Computerised National Identity Card (CNIC) condition in a bid to implement the VAT system. Further, he maintained that all of these reforms were part of FBR\u2019s overall structural overhaul.<\/p>\n","protected":false},"author":75,"featured_media":57408,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[14055],"persona":[],"class_list":{"0":"post-57830","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-details-on-fbr-to-shift-from-gst-to-vat-collection-model"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FBR to shift from GST to VAT collection model - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The Federal Board of Revenue (FBR) has announced its intention to replace its existing General Sales Tax (GST) collection framework with a\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/fbr-shift-from-gst-to-vat-collection-model.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR to shift from GST to VAT collection model - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The Federal Board of Revenue (FBR) has announced its intention to replace its existing General Sales Tax (GST) collection framework with a\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbr-shift-from-gst-to-vat-collection-model.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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