ISLAMABAD — In a major breakthrough for tax simplification, the Federal Board of Revenue (FBR) and all provincial revenue authorities have finalized a unified legal and technical framework for a Harmonized Sales Tax (HST). Under this landmark reform, businesses will no longer need to file separate sales tax returns across multiple provincial jurisdictions. Instead, a single centralized digital portal will automatically calculate and distribute input tax adjustments between the federal government and the provinces. Corporate analysts state this move will drastically reduce compliance costs for large software houses, logistics firms, and nationwide manufacturers.
