BR100 Increased By (0.01%)
BR30 Increased By (0.53%)
KSE100 Increased By (0.28%)
KSE30 Increased By (0.29%)
AGHA 6.38 Increased By ▲ 0.06 (0.95%)
BECO 4.35 Increased By ▲ 0.08 (1.87%)
BML 62.55 Increased By ▲ 0.10 (0.16%)
BOP 31.39 Increased By ▲ 0.16 (0.51%)
CNERGY 11.73 Increased By ▲ 0.14 (1.21%)
CSIL 5.91 Increased By ▲ 0.19 (3.32%)
FCCL 61.71 Increased By ▲ 0.17 (0.28%)
FFL 14.79 Decreased By ▼ -0.23 (-1.53%)
FNEL 1.24 Increased By ▲ 0.01 (0.81%)
KEL 6.32 Increased By ▲ 0.06 (0.96%)
KOSM 5.90 Increased By ▲ 0.34 (6.12%)
LOTCHEM 24.69 Increased By ▲ 0.01 (0.04%)
MLCF 103.93 Decreased By ▼ -0.15 (-0.14%)
NBP 173.32 Decreased By ▼ -1.96 (-1.12%)
NCPL 51.83 Decreased By ▼ -0.94 (-1.78%)
NPL 54.03 Decreased By ▼ -0.09 (-0.17%)
OGDC 315.87 Increased By ▲ 2.48 (0.79%)
PACE 9.26 Increased By ▲ 0.06 (0.65%)
PAEL 35.58 Decreased By ▼ -0.22 (-0.61%)
PIBTL 13.66 Increased By ▲ 0.19 (1.41%)
PPL 226.07 Increased By ▲ 4.26 (1.92%)
PRL 80.28 Increased By ▲ 1.20 (1.52%)
PTC 46.64 Decreased By ▼ -0.21 (-0.45%)
SSGC 23.82 Decreased By ▼ -0.05 (-0.21%)
TBL 9.24 Decreased By ▼ -0.07 (-0.75%)
TELE 7.55 Increased By ▲ 0.16 (2.17%)
TPL 24.54 Decreased By ▼ -0.57 (-2.27%)
TPLP 12.99 Increased By ▲ 0.48 (3.84%)
TREET 25.98 Decreased By ▼ -0.27 (-1.03%)
TRG 53.33 Decreased By ▼ -0.11 (-0.21%)
Business & Finance

FBR briefs OICCI, PBC on transformation plan

Published Updated

The Federal Board of Revenue (FBR) on Wednesday shared details of its ongoing transformation plan aimed at modernising tax administration with the representatives of the Overseas Investors Chamber of Commerce and Industry (OICCI) and the Pakistan Business Council (PBC).

The session, chaired by FBR Chairman Rashid Mahmood, was attended by leading business representatives, according to a statement.

Member Inland Revenue Operations Dr Hamid Ateeq Sarwar gave a presentation on the transformation roadmap, approved by the Prime Minister in October 2024, which focuses on three pillars – people, technology and processes.

According to the FBR, the reforms include the induction of around 1,600 auditors to expand audit capacity, training of new officers at reputable universities, and appointments based on integrity under a revamped Reward and Rating System linked to incentive packages.

Highlighting the role of technology, the chairman said digital production monitoring has been rolled out in key sectors, including sugar, cement, fertiliser, beverages, tobacco, poultry, and textiles.

Data integration and digitalisation of processes are also underway to track economic activity, detect tax evasion, and apply AI-driven risk parameters for audit selection.

The business community was informed that the tax-to-GDP ratio improved to 10.24% in FY25 from 8.8% in FY24.

The “Faceless Customs Appraisement” initiative, still in its pilot phase, has raised revenue per GD by 17.3% and reduced dwell time and demurrages at ports.

Enforcement measures have also boosted collections, with revenue generated from enforcement rising eightfold compared to last year.

On taxpayer facilitation, the FBR chief said a dedicated Facilitation Division has been set up at LTO Karachi, where senior officers will personally address taxpayers’ issues.

He also proposed a joint committee of FBR, PBC and OICCI to address valuation rulings and related matters.

Business representatives welcomed the pace of reforms, noting that technology-driven initiatives would help broaden the tax base and ease the burden on compliant taxpayers.

They also stressed the need for continued engagement between FBR and stakeholders.

Comments

Comments are closed for this article.