To stop the illegal trade in cigarettes and tax avoidance, Prime Minister Shehbaz Sharif has ordered swift action.
He offered these instructions while presiding over a high-level meeting on Wednesday in Islamabad to put a halt to tax evasion, tobacco smuggling, and other criminal activities.
The Federal Board of Revenue was also given instructions by the prime minister to ensure that the tax goals established for the current fiscal year are met.
He stated tax evaders ought to be prosecuted. He suggested that contemporary technology and better enforcement be used to enhance the tax collection system.
On the instructions of the Prime Minister, a track and trace system was implemented at the majority of cigarette manufacturers, which has significantly improved tax collection, it was revealed at the conference.
According to the information provided, this industry collected 83.5 billion rupees in taxes between July and December, a 26 percent increase over the amount collected during the same time last year.
Shehbaz Sharif asked FBR to develop a thorough plan to enhance revenue collection in order to get rid of tax evasion.
He acknowledged the FBR officers’ efforts and gave the bureau instructions to speed up its efforts to increase tax collection.
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