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pakistan

MoU signed for a single portal, GST returns on goods, services | Instant News


ISLAMABAD: In a major development to meet World Bank requirements, the Federal Revenue Council (FBR) and four provincial revenue authorities have signed a Memorandum of Understanding (MoU) to move towards placing one General Sales Tax (GST) return / portal for goods and services.

Currently there are only three differences between FBR and province, including the definition of services, origin and purpose of services and all stakeholders reiterate that this issue will be resolved amicably. It was a milestone reached today between FBR and the province to introduce a single GST return on goods and services, they said. The officials said that the National Tax Council is working to develop consensus on the definition of goods and services and they have asked for proposals from four provinces, then the Center will also be combined to define goods and services clearly. They said it was hoped all outstanding issues would be resolved by consensus.

The top official source said that FBR and the province have agreed to put in place a unified portal and that returns and workable solutions will be found to facilitate taxpayers.

Taxpayers used to file five returns each month for GST on goods and services but now with harmonization, taxpayers will file single returns on one portal. GST harmonization is one of the main conditions of a World Bank loan but will also facilitate taxpayers to apply for only one GST return instead of five per month.

When contacted, the PM’s Special Assistant for Revenue Dr Waqar Masood said that PM Imran Khan’s vision is being implemented today. He said that all stakeholders have decided to develop a consensus on all issues for the improvement of the tax system in the country.

On behalf of FBR, the Memorandum of Understanding is signed by the chairman of FBR while all provincial revenue authorities sign the document on behalf of their respective departments. Representatives from the Khyber Pakhtunkhwa Revenue Authority (KPRA) and the Balochistan Revenue Authority (BRA) were physically present at the ceremony while representatives from the Sindh Revenue Board (SRB) and Punjab Revenue Authority (PRA) participated virtually via zoom.

While addressing the occasion, the Prime Minister’s Special Assistant for Revenue, Dr. Waqar Masood Khan said that the signing of the document was another step towards finalizing the prime minister’s vision of making the FBR fully automated. “This step will make it easier for taxpayers and will be very helpful in increasing the country’s position in the ‘Ease of Doing Business Index’,” he added.

SAPM on Revenue further adds that now business-related people only need to file one sales tax return instead of multiple returns. He further said that this step will help simplify the taxation system and procedures. He expressed his commitment that other problems currently existing between FBR and the provincial revenue authority would soon be resolved, which in turn would provide convenience to the business world. The chairman of the FBR said that the facilitation of this MoU would make it easier for taxpayers and would lead to simplification of the tax system and related procedures. SAPM on Revenue congratulates the chairman of FBR, head of the Provincial Revenue Authority, and the FBR Policy Wing Team on achieving this significant milestone.

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pakistan

Asad Umar supported the decision of the Sindh government | Instant News


KARACHI: Federal Planning and Development Minister Asad Umar on Saturday supported the Sindh government’s decision to close commercial centers and markets for two days a week given the alarming spread of coronavirus cases in the country.

He spoke with media people and businessmen during his visit to the Federation of Pakistan Chambers of Commerce & Industry here.

Asad warned that a decision could be taken to shut down the entire economy if timely steps were not taken to protect against coronavirus infection. He said the government had promised to supply 900MW of electricity to Karachi this year, but that now 1,000MW of electricity would be supplied to the city.

He said the government had tried to launch Green Line bus services in Karachi in August this year while efforts to further improve Karachi Loop Rail services were being pursued.

He said the China Pakistan Economic Corridor project was continuing with success and was being expanded as well to increase employment opportunities in the country. He said rising prices had emerged as the biggest challenge for the government. He said China had invested in the first industrial zone to be established in Pakistan under CPEC. He hopes a major federally funded construction project in Karachi will be completed by the end of this year.

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New Zealand

Covid 19 coronavirus: Stuart Nash warns tourist numbers may not fully recover over the next 3-4 years | Instant News


A pontoon, once filled with people, is now submerged. Video / ABC

New Zealand Tourism Minister Stuart Nash has issued a heavy warning to tourism operators, saying it could be “at least another three to four years” before visitor numbers return to pre-coronavirus levels.

Nash made scathing comments during a whistle-stop visit to the struggling seaside resort town of Kaikoura South Island last week.

After announcing another $ 13 million- $ 18 million fund to help shore up the ailing tourist spots in Kaikoura, Mackenzie – Aoraki Mt Cook, Lake Queenstown, Fiordland and South Westland, Nash told the Herald they might face a lengthy battle.

“What the airlines are telling me is at least three to four years before we get the same level of air traffic to New Zealand,” he said.

His comments echo those of recent global experts including the International Air Transport Association (IATA).

Qantas also believes its international network is unlikely to fully recover by 2024, even with digital “passport vaccines” being piloted around the world.

These problems have divided the global aviation community. Canadian airline WestJet recently laid off 400 pilots, while United Airlines announced last week it would re-hire about 300 pilots.

Tourism Minister Stuart Nash made the comments during a visit to the struggling Kaikoura last week. Photo / George Heard
Tourism Minister Stuart Nash made the comments during a visit to the struggling Kaikoura last week. Photo / George Heard

New Zealand’s aviation industry, along with tourism operators, who are waiting to see if a transtasman travel bubble will emerge, hopes Nash’s comments are closer to a “worst case scenario”.

But Justin Tighe-Umbers, executive director of the airline industry group, Airline Representative Council (Barnz), also thinks global passenger numbers are unlikely to fully recover until around 2024-25.

New Zealand’s largest travel agency Aviation Center predicts demand will return to pre-Covid levels in late 2023 or early 2024.

“Outbound travel is a vital part of the tourism ecosystem and without it, Aotearoa will struggle to attract international air capacity, and anything else that brings New Zealand’s strong economy,” said Flight Center managing director David Coombes.

The New Zealand Air Line Pilots Association (NZALPA), however, argues that numbers should return sooner than 2024-25.

“That would be the worst horizon I would suggest, a very conservative horizon,” NZALPA president Andrew Ridling said of Nash’s comments.

The New Zealand Bed & Breakfast Association advises its members to work back to pre-Covid numbers in 2023.

If the 3-4 year timeframe is correct, it will “succeed or fail for some bed and breakfasts”, says association president Donna Brooke.

“We hope some will close and others go into hibernation for a period of time,” he said.

There is some optimism, however, with many B & Bs accepting reservations for the peak period January to March next year from international wholesalers and agents in the UK, Europe and the US.

“We accepted this order with the understanding that they could cancel very well,” said Brooke.

“Our advice to our members is to be flexible and fluid. The challenge in accepting these bookings is that it ‘needs space’ that domestic bookings can properly fill.”

Air New Zealand was unable to respond to the Herald’s approach on Sunday.

A New Zealand tourism business survey last month revealed that 53 percent of operators believe they will have to close within 12 months if the current situation does not improve.

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pakistan

The FTO recommends a cash refund of Rs1,000 for requesting refunds | Instant News


KARACHI: To widen the tax base, the Federal Tax Ombudsman (FTO) recommends a money back incentive for those who file their annual income tax returns, according to a report released by the FTO office on Tuesday.

The ombudsman proposes a bill to bring people into the net, who pay more than a certain amount of withholding tax.

“There should be an incentive of Rs1,000 to apply for a return, which will be paid as cash payment in the donor’s bank account,” the FTO recommends for the upcoming 2021/2022 budget. “This will start the process of documenting households and their income levels at the national level.”

The FTO also recommends fixing the re-submission expiration date. The FBR should design several systems so that the expiration date for filing returns is not extended, the FTO recommends.

However, it said late submissions should be allowed with certain additional penalties for late submissions per month or part of it. In 2020, the last 8 December was not extended.

FBR responded that the regulations for making SPT had been issued. Although this applies to Fiscal Year 2022, FBR follows this for Fiscal Year 2021 and refund forms will be available by 1 July 2021 (to be submitted before the due date without renewal by the last date).

The FTO also suggests steps to increase returns requests by government employees. It is proposed that the FBR approach the relevant formation authorities / divisions, to issue binding instructions for heads of government departments, autonomous bodies and large-scale public sector organizations.

Employers should be made to obtain return filing certificates from employees falling in the tax net at the end of the last date and to link their annual promotions / increases with filing for mandatory returns, the FTO recommends.

The FTO has highlighted gaps in tax cuts on the transfer of immovable property. It is said that FBR collects up-front / adjustable withholding tax on the sale and purchase of immovable property up to 236C and 236K from the Income Tax Ordinance, 2001 and Capital Value Tax (CVT) all the way to the Capital Territory of Islamabad (ICT).

However, the three articles of law mentioned above are followed by an ‘explanation’ which does not adequately cover the definition of ‘person’ (withholding tax) who is responsible for withholding taxes that are included in a particular section.

Recommendations and amendments that have been drawn up by the FTO office, to cover the missing link, are sent to FBR to be corrected in law.

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New Zealand

Rugby league: The New Zealand Soldier had a superb comeback to beat the Canberra Raiders at the NRL | Instant News


The Warriors take a stunning victory over the Raiders. Photos / Photosport

Soldier 34
Robber 31

Maybe, just maybe, something is developing for the Warriors in 2021.

It was an inexorable feeling after their unlikely 34-31 win against the Raiders on Saturday, where they teetered in a massive 25-6 first-half deficit.

It’s too early to get carried away, and too early to speak of turning points, but these are the kind of victories that build immeasurable confidence and excitement.

Captain Roger Tuivasa-Sheck capped a heroic display with Jordan Rapana’s save effort with nine seconds remaining, jabbing the ball freely as the Raiders winger looked set to score.

Roger Tuivasa-Sheck's astonishing experiment at Jordan Rapana. Photo / Getty
Roger Tuivasa-Sheck’s astonishing experiment at Jordan Rapana. Photo / Getty

The Warriors appeared to have closed the game with Adam Pompey’s 77th minute attempt, but they couldn’t tame the Raiders’ subsequent short strike, setting up a dramatic final set for the home side.

It was the biggest revival in Warriors history, as they scored five second-half attempts, four of them in the last 29 minutes, to capitalize on a 21-point deficit at 31-10.

Their previous best was against Newcastle in 2005, when they came from 20-0 down to win 30-26.

There were significant mitigating circumstances on Saturday, as the Raiders lost three forwards in the first 12 minutes (one injury and two concussions), which plagued them greatly in the second half, while midfielder Curtis Scott was the passenger with a rib injury in the second half. last quarter.

Canberra displayed great courage in the situation, with almost no substitutes on the bench, and neither did the Warriors, with their confidence to remain confident, especially when they trailed 31-10 with less than 30 minutes to play.

They were a lucky touch, with one attempt coming from a clear forward pass, but the Warriors have endured a tough official call-up over the last two or three seasons.

It can be the kind of performance that benchmarks, a ‘remember-when’ call for the rest of the season. It also puts a different hue to their upcoming matches.

Tuivasa-Sheck was outstanding, while midfielder Sean O’Sullivan impressed on the Warriors debut and Nikorima was brilliant in the second half, on the back of a strong attacking effort.

Adam Pompey scores a winning attempt for the Warriors. Photos / Photosport
Adam Pompey scores a winning attempt for the Warriors. Photos / Photosport

The Warriors make the best start. After picking up a set of reps, O’Sullivan and Eliesa Katoa’s gentle hands put Addin Fonua-Blake in his 100th NRL game.

The muggers locked Joseph Tapine off the pitch soon after with an ankle injury, before two of his teammates suffered concussions after a brutal head clash.

Despite being understaffed, the Raiders responded, with Jack Wighton controlling Nikorima from close range.

They started the Raiders’ blitzkrieg, with three attempts in eleven minutes. Ryan Sutton and Sia Soliolia both benefited from Josh Hodgson’s ruse, while George Williams dodged static defense for a gentle experiment.

Nikorima scored a superb individual attempt right after halftime, tackling twice, but hopes of a comeback appeared to be extinguished after Elliott Whitehead finished off the Raiders’ move from within their own half in the 47th minute, to push the deficit to 21.

Bayley Sironen’s attempt – after Ben Murdoch-Masila broke his serve – raised hope again, as the unmanned Raiders began to tire.

Murdoch-Masila then crossed in a very controversial situation, as a pass from Nikorima appeared to be just a meter ahead.

The Raiders came to a halt and the Warriors kept arriving.

Tohu Harris pulled off a brilliant tackle to feed Tuivasa-Sheck, as the Warriors closed the score to 31-28 with 10 minutes remaining.

The captain’s dubious final challenge in favor of the Raiders looked set to be a flash point, but the Warriors didn’t bow their heads, with Pompey slashing down on the left to finish off an impressive march on the pitch and mark wild celebrations.

Soldier 34 (Fonua-Blake, Nikorima, Sironen, Murdoch-Masila, Tuivasa-Sheck Pompey tries; Nikorima 5 goals)
Robber 31 (Wighton, Sutton, Soliolia, Williams, Whitehead tries; Croker 5 goals, Williams field goal)
Half time: 6-25

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