During a high-level discussion at the Prime Minister’s House, the premier made statements about revenue improvement tactics, economic digitization, and tax reforms.
The Federal Board of Revenue (FBR) is crucial to the country’s economy, Prime Minister Sharif stressed during his speech to the assembly. He promised to supply the FBR with all the tools required to support their efforts to digitize and grow their human resource base.
Ensuring that the rich pay their fair share of taxes requires a broader tax net, as the prime minister stressed. It was pointed out by him that the new budget places a disproportionate amount of tax burden on the wealthiest members of society while placing little taxation on the middle and lower classes.
The prime minister said, “The government’s top priority continues to be reducing the tax ratio while expanding the tax base.” Plans to fully digitize the tax system were presented, with the goal of improving worker productivity and expediting tax collecting procedures.
Along with calling for quick action, Sharif also suggested using digital tools to increase tax revenues and document the economy. He gave the order for officials to move quickly to bring more people under the tax roof.
The premier was informed about the latest developments in revenue enhancement and the digitization of the FBR over the last four weeks by global businesses McKinsey and Karandaz during the meeting. Plans were also presented for short- and medium-term tax revenue growth.
Reiterated was the possibility of generating billions of rupees in additional tax income if current measures were fully implemented. Revenue growth and accurate documentation of economic activity are anticipated outcomes of the economic value chain’s digitization and automation.
Premier Sharif also directed federal secretaries and department heads to interact directly with the Task Management System, which is cutting edge software used to track the implementation of directions from the prime minister to federal ministries.
At a meeting tasked with evaluating the Task Management System’s deployment, the Prime Minister declared that daily system usage evaluations will guarantee that all projects are completed on time. He underlined the need for ongoing observation to ensure advancement.
There was information presented to the meeting on the development of a mobile application for the task management system.
