ISLAMABAD: Prime Minister (PM) Shehbaz Sharif has constituted a committee to identify flaws and failures of the Track and Trace System (TTS), launched to curb tax evasion and improve revenue collection.
The committee – headed by former State Bank Governor Tariq Bajwa – has been directed to conduct a thorough investigation and submit its report to PM Shehbaz Sharif.
The Track and Trace System (TTS) is a software-based solution for tracking vehicles, loading units, shipments, and products throughout the entire supply chain, from supplier to consumer.
The TTS was implemented by a consortium through bidding by the Federal Board of Revenue (FBR). It was initially implemented in 2021 in the cigarette industry, followed by the sugar, cement, and fertiliser sectors.
The development comes after the system failed to meet its expected targets.
Earlier, it was reported that the Tajir Dost tax scheme launched by the government to bring retailers into the tax net also failed in attracting the business community.
The Tajir Dost app was launched to tax retailers in Pakistan. Through the app, the government was hoping to bring 3.5 million retailers into the tax net, the sources said.
The scheme is initially launched for traders of Karachi, Lahore, Peshawar, Rawalpindi, Quetta and Islamabad.
Under the scheme the retailers and small-scale traders will be charged Rs1,200 monthly income tax, starting from July 15, 2024. The traders will get 25per cent, concession on the payment of yearly income tax.
