ISLAMABAD: The government is introducing policies to ease methods of revenue collection such as digitization of tax collection in Pakistan.
In this regard, State Bank of Pakistan (SBP) and Federal Board of Revenue (FBR) have jointly introduced the online collection of government taxes through One-Link facility.
The aim is to improve payment system particularly from the perspective of revenue collection along with facilitating tax payers and minimizing incidence of leakages.[the_ad id=”32940″]The PTI government is restructuring FBR, wherein the tax structure is being segregated between policy and collection.
The purpose of proposed structure will address any existing and potential conflict of interests. In addition, it will also help in better engagement of policy-makers with various stakeholders to devise business friendly taxation policies.
In this connection, FBR has also initiated a project of “Strengthening Tax System and Building Tax Policy Analysis Capacity” where the aim of the project is to support policy informed decisions in domestic revenue mobilization.
The project is aligned with the objective of government vision 2025.
On the other hand, in order to achieve the revenue targets, the collection team is expected to focus on enhancement of collection alone without interfering the taxation policies.
Moreover, in order to broaden the tax base, FBR is set to launch nationwide campaign, which includes door to door survey for collection of information to identify potential as evaders.
This will not only improve the tax collection but will also increase the tax net, which is pivotal in reviving the overall economic structure of the country.
All these measures are expected to reduce the debt burden of the country in the medium term.