Preparing recommendations for Prime Minister’s directives for tax net increase and FBR reform

Islamabad (Online) The Federal Board of Revenue (FBR) has begun preparing recommendations for the increase of the tax net and reform of the FBR as per the Prime Minister’s directive, documenting business class, real estate and industry. Implementation of the proposal regarding the use of National Identity Cards as Business Identification in the transaction will also be implemented. The PTI government has initiated FBR to prevent tax evasion in the country and bring various sectors into the tax net Is directed to develop a comprehensive and comprehensive reform plan
Prime Minister Imran Khan has directed FBR officials to prepare a plan by November 30, which will be implemented over the next two years, media reports said. The Tehreek-e-Insaf government has decided to expand the tax net in the country and boost the economy. In this regard, Prime Minister Pakistan has directed FBR officials to document the economy including the FBR reforms and the business community as well as the real estate and industries in the tax net. Prepare recommendations for bringing FBR sources to the FBR According to sources, various proposals and recommendations regarding tax net increase have been reviewed. According to sources, the government has decided to identify the national ID card in all overseas bank transactions and has been implemented from June 2020. It was also reviewed in the meeting that the responsibility of documenting the economy is on the public and private sectors. According to sources, a meeting in this regard has been directed to the Ministry of Law and Justice to be a State Bank. Develop recommendations for amendments to banking law before December 31 so that In this regard, FBR chairman Shabir Zaidi said that the financial transaction data could be shared with FBR officials. The government has decided that the FBR officers should be taken into confidence in the FBR reforms.

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