Finance Minister Muhammad Aurangzeb visited the Federal Board of Revenue (FBR) Headquarters in Islamabad on Wednesday, where he was received by FBR Chairman Malik Amjed Zubair Tiwana.
The minister was also given an introductory meeting with the FBR board members to discuss the board's performance and future initiatives.
Finance Minister Muhammad Aurangzeb visited FBR Headquarters Islamabad today. He presided over an introductory meeting with FBR Chairman Malik Amjed Zubair Tiwana and Board members. pic.twitter.com/bFzOwyPf9q
— Ministry of Finance, Government of Pakistan (@Financegovpk) March 13, 2024
In the meeting, Minister Aurangzeb stressed the urgent need for digitizing the FBR to enhance transparency and efficiency in tax collection. He said these initiatives would focus on enhancing tax collection through improved FBR governance, comprehensive documentation of the economy, and full-scale digitization.
The government is considering strategies to broaden the tax base by incorporating wholesale/retail, real estate, and agriculture sectors into the tax framework. The minister stated that digitization is a means to an end and implementing digital solutions are pivotal to modernizing our tax administration.
Also Read: Pakistan wants longest deal with IMF in country’s history: FinMin Aurangzeb
"By leveraging technology and enhancing transparency, we can build a more equitable tax system that fosters economic growth and benefits all citizens," he stressed.
The meeting concluded with a firm commitment from both sides to work towards promoting the welfare of the Pakistani people.
The FBR chairman told the minister that tax target for the first eight months of the financial year has been successfully achieved, while the target of Rs9,415 billion would be achieved this fiscal year.
