PM directs FBR to revise revenue strategy to reduce debt

Islamabad: Prime Minister Shehbaz Sharif on Saturday directed the FBR to reevaluate its strategy for enhancing revenue collection in order to help free the country from debt.

Chairing a meeting during a visit to the FBR in Islamabad, he emphasized that the sectors which are not paying taxes must be brought into the tax net.

The Prime Minister said the process of digitization has been started in the FBR, assuring that it will be carried out in the most comprehensive and coordinated manner. He assured to fully support the revenue collection body in acquiring the latest technology.

Shehbaz Sharif praised the FBR for achieving a thirty percent increase in tax collection during the last financial year. He emphasized the need to reach the tax collection target of thirteen trillion rupees set for the current fiscal year.

However, he said traders and investors should not be harassed, instead, they should be fully facilitated. He clarified that tax should be collected where it is due.

The Prime Minister appreciated the finance team for securing the staff level agreement with the IMF, expressing the confidence that the board of the international lender will also approve it.

He said it is now time to act swiftly and tirelessly to make this program the last one in the country's history.

He emphasized the need for structural changes in order to augment macroeconomic indicators and put the country on the path of development.

The Prime Minister directed to immediately release two billion rupees to develop the Web-based One Customs System (WeBOC) on modern lines.

The meeting was informed that 4.9 million taxable persons have been identified by using modern technology.

Shehbaz Sharif directed to increase the tax base and bring the identified persons into the tax net immediately

The Prime Minister was informed that FBR's trader friendly mobile application based on automated system facilitates all processes from registration to tax submission.