Islamabad, March 13, 2024 – Finance Minister Muhammad Aurangzeb declared the documentation of the economy and the complete digitization of the tax system as the government’s foremost priorities during his visit to the Federal Board of Revenue (FBR) Headquarters on Wednesday.
In an introductory meeting with FBR members, the finance minister discussed the current performance of the board and outlined future initiatives aimed at enhancing transparency and efficiency in tax collection. The urgent need for digitizing the FBR was stressed, with a focus on improving governance, comprehensive documentation of the economy, and implementing full-scale digitization.
Highlighting the significance of these initiatives, Aurangzeb stated that digitization is not merely a goal in itself but a means to modernize the tax administration. By leveraging technology and implementing digital solutions, the government aims to develop a more equitable tax system that fosters economic growth and benefits all citizens.
One of the key strategies under consideration is the expansion of the tax base, with a focus on incorporating sectors such as wholesale/retail, real estate, and agriculture into the tax framework. This move is expected to broaden the tax net and ensure a fair distribution of the tax burden.
Aurangzeb emphasized that a digitized tax system is crucial for creating a transparent and efficient governance structure. He reiterated that the government is committed to leveraging technology to streamline tax collection processes, enhance accountability, and minimize opportunities for corruption.
During the meeting, both sides expressed a firm commitment to working collaboratively to promote the welfare of the Pakistani people. Minister Aurangzeb commended the dedication of the FBR team and assured them of the government’s full support in implementing transformative measures.
The visit to the FBR headquarters underscores the government’s dedication to strengthening fiscal governance and promoting economic prosperity in Pakistan. Minister Aurangzeb’s emphasis on digitization reflects a broader vision for a technologically advanced and transparent tax administration, which is seen as essential for the country’s economic development.
As the government moves forward with its digitization agenda, it is expected to bring about positive changes in tax administration, leading to increased revenue collection, reduced tax evasion, and improved overall economic stability. The commitment demonstrated by both the finance minister and the FBR further reinforces the government’s determination to usher in a new era of efficiency and transparency in Pakistan’s tax system.