You are here
Home > Business > FBR to Introduce Track and Trace System to Stop Tax Evasion

FBR to Introduce Track and Trace System to Stop Tax Evasion

Prime Minister Imran Khan on Tuesday said that Federal Board of Revenue (FBR) is introducing track and trace system to stop tax evasion in some major sectors of the economy.

PM Imran Khan, while addressing meeting of federal cabinet, said that lack of automation is primary reason behind tax theft which forces government to impose indirect taxes which as a result drive inflation.

The premier pointed out the FBR has been striving to bring this system over the last fifteen years but every time their efforts are sabotaged. He said that only two companies are paying taxes in the cigarette industry whilst forty percent cigarettes are being sold in black.

Prime Minister Imran Khan said the FBR had assured to roll out the track and trace system by July this year but now the Sindh High Court has given a stay on it.

He directed the Law Minister to apprise the high court of the actual situation to get the stay vacated as the tax evasion cannot be checked without automation.

He noted that because of tax evasion, which causes loss of billions of rupees to national exchequer, government has to rely on indirect taxes which leads to price hike.

On electoral reforms, the Prime Minister said electronic voting machines have become inevitable to ensure transparency in the elections. He said the cabinet should regularly be updated about the progress made towards this end as well as giving the right of franchise to overseas Pakistanis.

Leave a Reply

Top