ISLAMABAD: The Federal Board of Revenue (FBR) is planning to introduce electronic monitoring system to evaluate the production of different sectors in order to collect accurate taxes from them.
As per details, a meeting was arranged under the supervision of FBR Chairman Tariq Bajwa to make consideration over the electronic monitoring system, while four sectors including sugar, cement, beverages and papers and board were selected at initial stage to keep an eye on their production.
Senior Member Inland Revenue Policy, Shahid Hussain Assad, Member IR Muhammad Ashraf Khan, other member and director generals of FBR attended the meeting where the professional abilities and capacity of the officials were also reviewed. The high ups showed satisfaction over that FBR officials have proper understanding about the above mentioned four sectors.
The chairman and others participants of the meeting were briefed about the systems, while the final decision regarding the instalment of the system would be taken in upcoming sessions in this regard.
Sources said that FBR had decided to establish electronic monitoring system following the analytical reports presented by officials over the production of sugar, cement, beverages and paper sector which proved eye-opening for FBR as these reports revealed tax evasion of billions of rupees.
It is important to mention here that FBR had contacted various companies to get systems regarding the electronic monitoring and also short listed few companies.
On the other hand, all above mentioned four sectors have showed annoyance over the installation of system to measure their production.
