Islamabad: The Federal Board of Revenue (FBR) has decided to make the tax system more stringent and digital.
In this regard, new conditions have been imposed for tax credit on integration, automatic verification of returns and ATL and an official notification has also been issued by the Federal Board of Revenue (FBR).

According to the details, in the notification of major new amendments in the tax system by the FBR, it has been decided to give tax credit on integrating a business with the computerized system of the FBR.

According to the notification, under Rule 33U of the Income Tax Rules, for tax credit, the electronic system must be purchased, installed and successfully integrated with the FBR system in the same tax year. Some one-time expenses for hardware, software, installation, configuration, interface development, testing and implementation of the new system can be included in the credit.

Additionally, internet, telecommunications, salaries, training, routine operational costs, repairs, annual maintenance and service charges will not be included, while discounts, rebates, refunds, grants and subsidies will be deducted from the actual investment.

The tax credit will be available in the return of the same year in which the integration is completed, while the same expense will not be eligible for credit again. The automated checking system of tax returns will identify errors, discrepancies and legal issues in the return by combining different available data.