• REPORT: MUHAMMAD UMAIR ZEB
    FINANCE AND TAX ANALYST

The Federal Board of Revenue (FBR) and Provincial Authorities (KPRA, BRA, SRB & PRA) have truly become happening place and with every passing day, Federal and Provincial Revenue Authorities are going from strength to strength. Authorities have successfully maintained the momentum of their growth trajectory in revenue collection.
It is pertinent to mention that FBR and Provincial Authorities have introduced several innovative interventions both at the policy and operational level to maximize revenue potential through digitization, transparency, and taxpayers’ facilitation. It is fast-tracking its journey to embrace digitization and automation. This has not only resulted in ensuring the ease of doing business but also translated into healthy and steady growth in revenue collection. Likewise, the incumbent top leadership of FBR and provincial revenue authorities have launched a new culture of clean taxation with a clear focus on collecting only the fair tax and not holding up refunds that are due to be paid. This has not only fast-tracked the process of bridging the trust deficit between revenue authorities and Taxpayers but also ensured the much-needed cash liquidity for the business community. That’s precisely why, for the first time in the country’s history, FBR and revenue authorities continues to surpass its assigned revenue targets despite challenges and price stabilization measures adopted by the government.
It is positively hoped that FBR and provincial revenue authorities will continue to strive to maximize automation and digitization to promote transparency and reliability in tax collection. It is leaving no stone unturned to promote a culture of tax compliance in Pakistan through the effective use of technology, data sharing, artificial intelligence, mathematical modeling, and third-party information based on definite evidence. Thus, FBR and provincial revenue authorities is ushering in a new era of clean taxation that is fair, just, and reliable. This is certainly going to transform the entire economic landscape of the country. The sooner it happens, the better.

By Media

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