Karachi, November 8, 2024 – Officers from the Inland Revenue (IR) department have begun closely examining importers for discrepancies between the declared values at the Customs stage and the amount of duties and taxes paid.
This proactive step is part of the Federal Board of Revenue’s (FBR) ongoing efforts to ensure greater transparency and tighten tax compliance.
Sources within the FBR disclosed that the launch of the Information Center has provided IR officers with real-time access to import data through the WeBOC (Web-based One Customs) system. Previously, IR officers could only access this information on a case-by-case basis, but the new platform allows them to monitor import activities continuously, identifying potential gaps or discrepancies in declarations.
Under the guidance of the Chairman of the FBR, the department is intensifying its digitalization initiatives to optimize tax administration and improve revenue collection. As part of these efforts, the FBR introduced the advanced Stock Register system through the Information Center 2.0. This innovative platform provides IR officers with seamless, real-time access to detailed data on registered persons, significantly improving compliance with Income Tax (IT) and Sales Tax (ST) regulations.
The Stock Register within the Information Center 2.0 functions as a powerful management tool, enabling IR officers to retrieve detailed stock data efficiently. This allows for more precise tax assessments and reduces the risk of tax evasion. The system also provides access to taxpayer profiles, including detailed filing histories and authorized representative information, ensuring comprehensive oversight. Furthermore, the platform allows for comparisons between tax and declaration data, helping officers track stock movements, quantities, valuations, and transaction dates with greater accuracy.
The integration of various data streams, such as Customs import details and Sales Tax annexures, within Information Center 2.0 strengthens the FBR’s ability to monitor and manage tax compliance effectively. Accessible exclusively through the IRIS tax officer platform, the portal’s advanced filters and search functions allow officers to retrieve data quickly, ensuring that tax assessments and compliance checks are accurate and timely.
This initiative is a significant step in the FBR’s modernization efforts, reinforcing the national tax framework. By centralizing taxpayer data and enhancing reporting capabilities, it aims to minimize tax evasion and improve the collection of vital revenue. Through this advanced and transparent system, IR officers can enforce regulatory compliance more efficiently, contributing to the strengthening of the national economy while maintaining robust financial management across industries.
