Digitalisation of tax system: Contract signed with McKinsey

ISLAMABAD: Finance Minister Muhammad Aurangzeb Friday said the digital transformation is a key priority for the government.

A high-level meeting was held at the Federal Board of Revenue (FBR) Headquarters, following the signing of the contract by the global consulting firm, McKinsey & Company, for the digitalization of the tax system.

The meeting was attended by officials from the Ministry of Finance, FBR, Karandaaz and the consulting firm. The digitalization of the tax system is a pivotal step towards modernizing tax collection which will enhance transparency and revenue growth.

At the meeting, the Federal Minister for Finance & Revenue, Muhammad Aurangzeb, sharing the GOP’s vision stated, “Digital transformation is a key priority for the government, and this collaboration underscores the Government’s commitment to improving tax collection for promoting sustained economic growth. We look forward to seeing the positive impact of this initiative on Pakistan’s economy.”

FBR Chairman Malik Amjed Zubair Tiwana emphasized the FBR’s commitment to enhance revenue collection via leveraging technology to modernize its operations. He highlighted “This project is a significant step towards achieving the FBR’s goals of transparency and efficiency to better serve the people of Pakistan.”

The CEO of Karandaaz Pakistan, Waqas ul Hasan, expressed confidence that this collaboration will help FBR in defining and implementing its digital strategy and highlighted that the experience, the contracted firm brings for this assignment would contribute to realizing the broader vision of the Pakistan Digital Stack initiative. He also thanked the Bill and Melinda Gates Foundation for providing financial assistance for this project of critical importance.

Copyright Business Recorder, 2024