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FBR to bring 3.5m more people into tax net in next five years

FBR to bring 3.5m more people into tax net in next five years

 

KARACHI: Federal Board of Revenue (FBR) to add 3.5 million people into active taxpayers list (ATL) in next five years while currently there are only 1.2 active taxpayers in Pakistan

A meeting of steering committee for “Pakistan Raises Revenue Project” (PRRP) was held on August 1 in which it was decided to bring Tax-to-GDP ratio from 13 percent to 17 percent, while number of Active Taxpayers will also be expanded from 1.2 million to 3.5 million.

The meeting decided that filing of return (ease of doing business) hours will also increase from 253.5 hours to 130 hours and the tax filing system will be made more simplified and transparent, while it was decided The meeting decided to bring new taxpayers through data sharing while track and trace system will be made more effective for monitoring of production in key areas

The meeting decided to disburse funds of World Bank for purchasing of IT infrastructure equipment (software and hardware) and training of officials.