Advertisement
Categories: BusinessNewsPakistan

PM Shehbaz Approves FBR’s New Plan to Strengthen Tax Enforcement

Advertisement

Prime Minister Shehbaz Sharif has given the green light to the Federal Board of Revenue’s (FBR) new transformation plan, aimed at improving tax enforcement and driving key economic reforms. The plan introduces third-party audits for FBR projects and imposes stricter penalties on taxpayers involved in fraud or failing to meet tax obligations.

During a meeting to assess FBR’s progress, Sharif stressed the need to digitise the tax system and enhance enforcement mechanisms. He instructed authorities to create a comprehensive strategy in consultation with key stakeholders and taxpayers to ensure smooth implementation of the reforms, which are designed to bolster Pakistan’s economy.

Key elements of the plan include using technology to improve tax collection, rewarding high-performing FBR officers, and enforcing stricter tax laws. It also targets tax evasion by restricting financial transactions for non-compliant taxpayers.

Sharif described the FBR as the backbone of Pakistan’s economy, underscoring the need to increase tax revenue to support public services and social development. He also reiterated the government’s focus on promoting the private sector, which he called crucial for economic strength.

To curb smuggling, the plan includes new customs check posts in collaboration with the Frontier Works Organisation (FWO) and a camera-monitored system to oversee customs officers.

In its initial phase, Karachi’s large taxpayer unit, which generates 32% of the country’s tax revenue, will see the deployment of efficient officers, supported by auditors and experts.

Advertisement
News Desk

Recent Posts

Fatima Fertilizer’s Sarsabz Tabeer launches healthcare initiative in collaboration with MASH and the Government of Punjab

As part of its ongoing commitment to empower rural women and female farmers, Fatima Fertilizer,…

2 hours ago

Payoneer Hosted “Game Leaders Connect 2025” to Power Global Growth for Pakistan’s Gaming Industry

Payoneer (NASDAQ: PAYO), the global financial technology company powering business growth across borders, hosted Payoneer’s…

2 hours ago

foodpanda launches Pakistan’s first multi-brand dining destination, ‘The Commune’

foodpanda, Pakistan’s leading online delivery platform, has announced the grand opening of "The Commune by…

3 hours ago

Why Did Temu & AliExpress Prices Suddenly Increase in Pakistan?

Pakistani shoppers were left shocked this week as prices on popular e-commerce platforms Temu and…

3 hours ago

Petrol, Diesel Prices May Surge by Up to Rs15/Litre

The government is preparing to impose another steep increase in petroleum prices, dealing a fresh…

1 day ago

Sindh Bank selects PTCL to enhance Bank’s Digital Connectivity Infrastructure

Pakistan Telecommunication Company Limited (PTCL) and Sindh Bank have signed an agreement for deployment of…

1 day ago