ISLAMABAD: The Federal Board of Revenue (FBR) has started preparations to introduce a comprehensive and modern system to prevent sales tax evasion and alleged smuggling from the next fiscal year.
According to sources, under the proposed system, unregistered commercial vehicles will not be allowed to enter motorways, GT Road and other major highways.
According to the plan, special cargo tracking tags will be installed on all commercial vehicles in the next financial year, through which their movements will be monitored. The aim of this measure is to prevent tax evasion and illegal trade.
Sources said factories will only be able to load goods in trucks registered with the FBR, while a proposal for action and fines against unregistered vehicles is also under consideration.
Under the new system, all commercial transport will be linked to the FBR’s central data system so that a complete record of each vehicle and the goods transported by it is available.
This move is not only likely to reduce alleged sales tax evasion by about Rs200 billion, but is also expected to prevent smuggling and improve customs revenue.
Sources say that this project will be implemented in phases during the next financial year.
