ISLAMABAD: The Special Investment Facilitation Council (SIFC) has finalized the project for the digitalization and reorganization of the Federal Board of Revenue (FBR) for approval by the upcoming federal government.
These initiatives will strengthen the internal system and structure of the Federal Board of Revenue (FBR).
Under the reorganization project, a Special Customs Board has been formed to manage Pakistan’s customs affairs, with a focus on combating smuggling.
The consolidation of revenue will remain the responsibility of the Revenue Division of the Federal Board of Revenue (FBR).
These measures of reorganization will play a significant role in removing obstacles to tax collection and improving the efficiency of tax machinery.
The use of modern digital technology will help expand the tax base and assist in the implementation of tax policies.
Tax revenue collection will be increased from the current level of 8.5% of GDP to 18% by 2029.
