ISLAMABAD (UPA) : Prime Minister Muhammad Shahbaz Sharif has announced the formation of a federal board. Terming the increase in tax collection in proportion to GDP as satisfactory as a result of the reforms in the FBR, he said that there will be no change in the tax collection and efficiency targets for the next financial year.
To increase public awareness of the reform system of the Federal Board of Revenue and Customs Clearance, both the institutions should increase their capacity in collaboration with the Ministry of Information and Broadcasting. According to a statement issued by the media wing of the Prime Minister’s Office on Tuesday, he expressed these views while chairing a weekly review meeting on the proposed reforms in the Federal Board of Revenue.
The Prime Minister said that as a result of the reforms undertaken by the Federal Government in the Federal Board of Revenue, the increase in the ratio of tax collection to GDP is satisfactory for the government, the federal government and I will fully support and protect the reform measures taken by the authorities themselves.
There will be no change in the approved timeline for tax collection and other reform targets for the next financial year of the FBR. The Prime Minister directed to ensure continuous implementation of reforms by removing red-tape and institutional barriers in the path of reforms, ensure uniform and effective implementation of revolutionary reforms in customs clearance across the country, use technology in the reform agenda of customs clearance to reduce the time required in institutional operations, work in coordination with the federal and provincial governments to maintain the fruits of tax collection in the next financial year as a result of FBR reforms.
The Prime Minister also directed the two agencies to increase their capacity in collaboration with the Ministry of Information and Broadcasting to make the public aware of the reform system of the Federal Board of Revenue and Customs Clearance. The Prime Minister was informed that on the special instructions of Prime Minister Muhammad Shahbaz Sharif, the form for filing income tax returns has been compiled online and in Urdu. FBR has met its tax collection target in July, the first month of the new financial year, and is expected to achieve the full target in the coming months as well.
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