ISLAMABAD: Federal Board of Revenue (FBR) and Punjab Excise, Taxation and Narcotics Control Department have signed an agreement for exchange of information of respective registered persons with the respective authorities.
The signing ceremony was held on Monday at the office of Punjab Excise, Taxation and Narcotics Control Department in Lahore.
The signing ceremony was witnessed by Mumtaz Ahmed, Punjab Minister for Excise and Narcotics Control; Asim Ahmed, Member IT, FBR; Wajihullah Kundi, Secretary Excise and Taxation; Zainul Abideen, Chairman, Punjab Revenue Authority; and Masood ul Haq, Director General, Excise and Taxation.
Under the agreement the FBR will get information of persons who get registered their motor vehicles and immovable properties with the provincial authorities. Further, the FBR will also get information of professional working in the province.
Likewise, Punjab Excise Department will get information of guest houses, cotton ginning and other registered professionals.
The exchange of information will be kept confidential. The agreement was signed with an aim to identify potential taxpayers and plug revenue leakages.
Both the authorities agreed to cooperate with each other in revenue collection. Further, it was agreed that secure web services will be used for the purpose in order to reduce human intervention.
The FBR has shown interest to cooperate with other authorities in order to broaden the tax base.