Finance Minister Highlights Digitization as Key Priority for Tax System

By

March 15, 2024

The Finance Minister, Muhammad Aurangzeb, emphasized to the Federal Board of Revenue (FBR) the importance of bringing the economy into the digital age and ensuring that taxes are collected efficiently.

During his recent visit to the FBR Headquarters, the Minister pledged his backing for efforts to boost tax collection. He chaired a meeting with FBR officials, including Chairman Malik Amjed Zubair Tiwana, to assess revenue collection performance.

In the meeting, Minister Aurangzeb highlighted the pressing need to digitize the FBR for better transparency and effectiveness in tax collection. He outlined plans to improve tax collection by modernizing FBR operations, documenting the economy comprehensively, and embracing digital technology.

Additionally, the government is exploring ways to widen the tax base by including sectors like wholesale/retail, real estate, and agriculture in the tax framework.

Aurangzeb stressed that digitization isn’t just a goal but a crucial step in modernizing tax administration. He emphasized that utilizing technology and ensuring transparency can lead to a fairer tax system, promoting economic growth for all citizens.

The Minister commended FBR’s efforts in meeting revenue targets and urged them to expedite reforms and digitization for better performance. He assured full support and directed them to maximize efforts to tap into the country’s true tax potential.

Overall, the Finance Minister’s visit highlights the government’s commitment to enhancing fiscal governance and fostering economic prosperity in Pakistan through modernization and reform.