FM highlights tax system digitization as key to transparency

MG News | June 03, 2024 at 03:14 PM GMT+05:00

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June 03, 2024 (MLN): Digitizing the tax system is a pivotal step toward modernizing tax collection, which will enhance transparency and revenue growth, Finance Minister Muhammad Aurangzeb stated during a meeting with Jason Lamb, Deputy Director, Focus Country Implementation of Bill & Melinda Gates Foundation.

Minister of State Ali Pervaiz Malik, Member Reforms FBR, and CEO Karandaaz attended the meeting.

During the meeting, the Federal Minister expressed appreciation for the Bill & Melinda Gates Foundation's support in engaging McKinsey & Co. for the ongoing digitalization of FBR.

Senator Muhammad Aurangzeb also mentioned the necessary improvements required in existing data sources to utilize them for tax purposes effectively.

The Minister of State Ali Pervaiz Malik discussed the implementation challenges of RAAST, Pakistan's instant payment system, and ways to improve its functionality.

The meeting concluded with a strong note of commitment from all parties involved to continue working together towards these goals.

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