Aurangzeb emphasises digitalisation of tax system

ISLAMABAD: Finance Minister Muhammad Aurangzeb on Wednesday stressed the urgent need for digitalisation of the Federal Board of Revenue (FBR) to enhance transparency and efficiency in tax collection. During an introductory meeting with tax officials at the FBR headquarters, the minister deliberated on a range of proposals, a key one being the inclusion of retailers’ and wholesalers’ incomes in the tax net. Mr Aurangzeb apprised the FBR officials of his top priority plan hovering around two pillars — documentation of the economy and end-to-end digitalisation of the tax system. The second review of the $3bn Stand-By Arrangement (SBA) with the International Monetary Fund (IMF) is scheduled from March 14-18. The minister’s visit to FBR occurred before the start of his first meeting with the fund.