Federal Minister for Finance and Revenue Miftah Ismail Tuesday expressed hope that Federal Board of Revenue (FBR) will continue to maximize revenue collection in the next two months to meet the upward revised target fixed for the current financial year 2021-2022
The minister visited Federal Board of Revenue (Headquarters) to review performance and the ongoing drive for tax compliance by the country’s premier revenue collection organization.
During the meeting, Chairman FBR gave a detailed briefing to the minister on the overall performance and revenue targets and collection made during the first ten months (July 2021- April 2022) of the current financial year. The minister expressed his satisfaction and generously appreciated FBR on achieving the target. He hoped that FBR will continue to maximize revenue collection in the next two months to meet the upward revised target fixed for the current financial year, 2021-2022.
He said that FBR should explore all avenues of tax compliance and make all out efforts to harness true revenue potential across Pakistan. He assured FBR Chairman of his full support in the ongoing tax collection drive in the country.
The FBR Chairman also gave a detailed account of the flagship initiatives including Point of Sale (PoS) and Track and Trace System (TTS). He assured the minister that all measures will be taken to further improve these initiatives and tap the real revenue potential in retail as well as large scale manufacturing sectors.
The minister appreciated various digital innovative measures adopted by Pakistan Customs. He also commended digitalization drive of FBR in order to automate business processes, ensure ease of doing business, and thereby facilitate taxpayers. Similar digital interventions should be made at sea ports to ensure seamless and smooth clearance of cargo, the minister emphasized.
The minister reiterated that all avenues must be explored and meaningful budget proposals should be presented before the government to maximize tax collection without creating any additional burden on the common man.
Earlier, upon arrival, Chairman FBR Asim Ahmad and other senior officers accorded him warm welcome on his very first visit after assuming office as finance minister.