ISLAMABAD: In its bid to broaden the tax base, the Federal Board of Revenue (FBR) has taken several initiatives to increase the number of return filers, said an official.
“Our efforts have already started paying dividends as reflected in an impressive 19% growth recorded during the first three quarters of the current fiscal year,” said FBR Facilitation and Taxpayers Education (FATE) Member Shaista Abbas, while addressing participants of the 21st Mid-Career Management Course of the National Institute of Management Quetta, who were on a visit to the FBR House.
“The FBR has already collected Rs2,103 billion during the period,” she added.
She said the FBR had formulated a strategy to go after tax-evaders by using information obtained from their transactions in the real estate sector, purchase of vehicles, foreign travels and in the long run, accessing their bank accounts to assess the extent of tax avoidance.
Meanwhile, FATE’s Chief Member Facilitation Tehmina Aamer shared various loopholes in the current system and the measures required to make the system more efficient. “For a robust system, compliant taxpayers, independent tax authority, simplified tax laws and procedures and vibrant tax machinery are essential,” she said.
Published in The Express Tribune, May 5th, 2016.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ