A meeting chaired by Prime Minister (PM) Shehbaz Sharif here in Islamabad on Friday gave in-principle approval to the homegrown Transformation Plan of the Federal Board of Revenue (FBR) regarding tax collection management.
This plan has been prepared by the FBR on the instructions of the Prime Minister in collaboration with other economic and technological experts of the country after a detailed analysis of the tax collection of the last twenty five years.
This will enable more tax to be collected in a better manner without hindering the journey of economic development and will provide more convenience to the people paying full tax. The meeting was given a detailed briefing on the FBR’s transformation plan.
It was informed that the plan includes a comprehensive strategy for the effective use of information technology, incentivizing officers and staff who demonstrate integrity and performance in improving tax collection and enhancing the enforcement of tax laws.
According to the proposals, strict measures can be taken against those who do not pay full tax on time and are involved in fraud in order to prevent tax evasion in the society.
It was informed that these measures will be implemented after extensive consultation with good taxpayers. Under the transformation plan, auditing capacity of FBR will be enhanced.
Speaking on the occasion, the Prime Minister was appreciative of FBR’s transformation plan and directed further consultation on it with all relevant stakeholders. He said good taxpayers should be invited and consulted on the transformation plan.
The Prime Minister directed the formulation of a comprehensive strategy to further enhance the effectiveness of the FBR’s enforcement system, describing it a pressing need of the time.
He noted that FBR is the backbone of the country’s economy and its digitization is an important milestone in government’s economic reforms. He said improvement in revenues will enhance the provision of services to the public and lead to betterment in the social sector.
The Prime Minister also directed third party audit of all FBR projects. He said promotion of the private sector is among the government’s priorities, emphasizing an active and prosperous private sector is very important for the country’s economy.
The Prime Minister directed to accelerate efforts against smuggling. It was also decided to set up new check posts to prevent smuggling.