ISLAMABAD: Federal Minister for Finance and Revenue Muhammad Aurangzeb on Wednesday conveyed to the Federal Board of Revenue (FBR) that documentation of economy and digitisation of tax system is the top priority of the government.
During his first visit to the FBR Headquarters here on Wednesday, the Finance Minister has also assured his full support to the FBR team in increasing their efforts to achieve real tax potential.
Muhammad Aurangzeb visited the Federal Board of Revenue (FBR) Headquarters on Wednesday and presided over a meeting to review revenue collection performance of FBR. The Chairman FBR Malik Amjed Zubair Tiwana and Members of the Board attended the meeting.
In the meeting, Minister Aurangzeb stressed the urgent need for digitising the FBR to enhance transparency and efficiency in tax collection. These initiatives would focus on enhancing tax collection through improved FBR governance, comprehensive documentation of the economy, and full-scale digitisation.
Govt considering incorporating agriculture, real estate into tax framework: Aurangzeb
The government is considering strategies to broaden the tax base by incorporating wholesale/retail, real estate, and agriculture sectors into the tax framework.
Finance Minister Aurangzeb stated that digitisation is a means to an end and implementing digital solutions are pivotal to modernizing our tax administration. He said that by leveraging technology and enhancing transparency, we can build a more equitable tax system that fosters economic growth and benefits all citizens.
Chairman FBR extended a warm welcome to the Minister on behalf of the FBR team. He gave a detailed presentation on the revenue collection efforts and various revenue generation initiatives taken by FBR as well as issues currently being faced in revenue administration. The minister was briefed the FBR has successfully achieved the cumulative revenue collection target for the first eight months of the current financial year and is committed to achieve the overall target as well. The Finance Minister appreciated the FBR team for their efforts in meeting the targets. He called for expediting the reform process and digitisation of FBR for better performance and enhanced revenue generation. The Minister also directed to evolve a mechanism to ensure transparency in tax collection system. He assured the FBR team of his complete support in the performance of their duties and directed to increase their efforts to achieve the true tax potential. The meeting concluded with a firm commitment from both sides to work towards promoting the welfare of the Pakistani people. Minister Aurangzeb praised the dedication of the FBR team and pledged the government’s full support in implementing transformative measures.
The finance minister’s visit to the FBR Headquarters underscores the government’s dedication to strengthen fiscal governance and promoting economic prosperity in Pakistan.
Copyright Business Recorder, 2024
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