March 13, 2024 (MLN): The newly elected Finance Minister Muhammad Aurangzeb on Wednesday stressed the urgent need for digitizing the Federal Board of Revenue of Pakistan (FBR) to enhance transparency and efficiency in tax collection.
According to a press release issued today, the finance minister made these remarks during an introduction with the FBR board members to discuss the board’s performance and future initiatives.
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
Finance Minister Aurangzeb stated that digitization is a means to an end and implementing digital solutions are pivotal to modernizing our tax administration.
He said that by leveraging technology and enhancing transparency, we can build a more equitable tax system that fosters economic growth and benefits all citizens.
The meeting concluded with a firm commitment from both sides to work towards promoting the welfare of the Pakistani people.
Minister Aurangzeb praised the dedication of the FBR team and pledged the government's full support in implementing transformative measures.
The Finance Minister's visit to the FBR Headquarters underscores the government's dedication to strengthen fiscal governance and promoting economic prosperity in Pakistan.
