FBR’s Track & Trace System crucial to check mass tax evasion: PM

Mar 16, 2021: Prime Minister Imran Khan on Tuesday terming the Federal Board of Revenue’s (FBR)automated Track & Trace System crucial to check mass tax evasion directed the Law Minister to work on getting vacated the stay order by the Sindh High Court.

Chairing a meeting of the federal cabinet here, the Prime Minister asked Barrister Farogh Naseem to “convince the Sindh High Court that the non-imposition of the automated system would incur a loss of billions to the country”.

The Sindh High Court had issued a stay order on FBR’s proposed tax mechanism, for which the Prime Minister mentioned that FBR had given assurance to roll out the system by June.

He said FBR had been making efforts for the last 15 years to implement the Track & Trace (T&T) System, however, regretted that the move was “sabotaged” every time.

Imran Khan said big sectors of the economy including tobacco, cement, and sugar were witnessing mass tax evasion, adding that the sugar industry alone did not pay the tax of Rs 400 billion in five years.

In the tobacco industry, he said, only 19 percent of the tax was paid by two big companies while the 40 percent was being evaded resulting in the loss of billions to the country.

APP

 

Posted on: 2021-03-16T15:44:00+05:00

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