Federal Board of Revenue has collected Rs. 83.5 billion from the Tobacco sector during the first six months of the current fiscal year.
Finance Minister Ishaq Dar disclosed this in a meeting chaired by the Prime Minister pertaining to ending the trend of illegal tobacco smuggling and tax evasion in the country.
He informed that FBR has collected Rs. 83.5 billion during the first six months of the current fiscal year which is 26 percent more than the tax collected during the same period last year.
The surge in the collection from the Tobacco sector was attributed to the implementation of a Track & Trace System in cigarette factories, it was informed.
The Prime Minister on this occasion said that the tax collection system should be improved through the use of modern technology and better enforcement.
He also directed the FBR authorities not only to ensure the realization of FBR tax targets in the current financial year but tax evaders should be brought to justice.
The Prime Minister also appreciated the efforts of the FBR officials to improve the tax system and directed them to intensify their efforts to bring substantial improvements to the tax collection system.
A consortium comprising AJCL (Pvt) Limited, Authentix Inc. USA, and Mitas Corporation has operationalized the ‘Track & Trace Solution’ in the tobacco, sugar and fertilizer sectors.