The Federal Board of Revenue (FBR) signed an agreement with Karandaaz Pakistan for digitisation of the tax system, a statement said on Friday.

The pact was signed on instructions of the prime minister, it added.

As per details, Chairman FBR Malik Amjad Zubair Tiwana and senior officers of the Ministry of Finance participated in the signing ceremony.

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Under the agreement, Karandaaz Pakistan will assist in the digitisation of FBR’s tax system. Digitisation would help in reducing the cost to taxpayers, FBR said.

The board said the collaboration would enable digitisation of the economy, expansion of the tax net, and sustainable increase in its revenue.

Speaking on the occasion, FBR chief Malik Amjad Zubair Tiwana said the board was focusing on automating its systems and digitising the economy. Concerted efforts were being made to address the challenge of the undocumented economy and broaden the tax base, he maintained.