ISLAMABAD(National Times)- Prime Minister Shehbaz Sharif on Thursday directed the launch of a pilot project for a proposed automated income tax collection system in Islamabad, the Prime Minister\u2019s Office (PMO) said.<\/p>\n\n\n\n
In a statement, the PMO said that Prime Minister Shehbaz chaired a review meeting on ongoing reforms in the Federal Board of Revenue (FBR), attended by Finance Minister Muhammad Aurangzeb, State Minister for Finance Bilal Azhar Kayani, and others.<\/p>\n\n\n\n
\u201cThe meeting reviewed the ongoing measures aimed at modernising the tax system and increasing tax collection in detail,\u201d it said, adding that a comprehensive plan was presented to make inland revenue collection more \u201ceffective, transparent and faceless\u201d.<\/p>\n\n\n\n
According to the PMO, the meeting was informed that the proposed new tax system would have the capability to identify under-declared income and assets through data relating to properties, vehicles and banks.<\/p>\n\n\n\n
\u201cModern technology and artificial intelligence would be used to make the tax system automated, transparent and effective,\u201d it added.<\/p>\n\n\n\n
Addressing the meeting, the prime minister said that the \u201cproject for an automated, modern and efficient tax management system through the effective use of modern technology would prove to be a milestone in the government\u2019s reform agenda,\u201d the PMO stated.<\/p>\n\n\n\n
The premier added that minimising human intervention and discretionary powers in the tax collection system was the need of the hour.<\/p>\n\n\n\n
The prime minister further said that implementation of the project would not only increase revenues but also promote transparency, fairness and public trust in the tax system.<\/p>\n\n\n\n
He added that the process of FBR reforms would continue for the documentation of the economy and expansion of the tax net.<\/p>\n\n\n\n
During the meeting, the PM Shehbaz also paid tribute to the provincial governments for their effective action against illegal cigarettes, the PMO said.<\/p>\n\n\n\n
\u201cThrough enforcement measures, additional tax collection of Rs40 billion from the cigarette sector is expected this year for the national exchequer,\u201d it said.<\/p>\n\n\n\n
Under the new system, it was also proposed to establish a National Faceless Audit Wing, a National Assessment Wing and a Field Operations Wing.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD(National Times)- Prime Minister Shehbaz Sharif on Thursday directed the launch of a pilot project for a proposed automated income tax collection system in Islamabad, the Prime Minister\u2019s Office (PMO) said. In a statement, the PMO said that Prime Minister Shehbaz chaired a review meeting on ongoing reforms in the Federal Board of Revenue (FBR), […]<\/p>\n","protected":false},"author":2,"featured_media":127002,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-127001","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest_news","entry"],"yoast_head":"\n