The Track and Trace System (TTS) has been helpful for the Federal Board of Revenue (FBR) in minimizing tax evasion in the four major sectors of the economy, including cement, sugar, fertilizer, and tobacco.
This was highlighted by the delegation of Authentix Inc., led by Executive Vice President Tim Driscoll, during a meeting with Finance Minister Miftah Ismail. The delegation apprised the minister of the updated status of TTS in the targeted sectors.
The finance minister, while expressing satisfaction over the progress of TTS, emphasized that this system is imperative for controlling the tax evasion and illicit trade of various products.
He directed the delegation to ensure full implementation of TTS at the earliest possible time for improving overall revenue and curbing the untaxed products in the market.
Authentix Senior Vice President Strategy and Corporate Development Sten Bertelsen, General Manager Pakistan Zafar Masood, and senior officers from Finance Division attended the meeting.