ISLAMABAD: The Federal Board of Revenue (FBR) has decided to gradually introduce Electronic Data Interchange system with other partner countries .
According to sources, the country has introduced Electronic Data Interchange system with China which will be implemented from January 2016. Now the FBR has also decided to expand it with other partners countries. Sources added that this system is helpful in overcoming under-invoicing and tax evasion as Pakistani imports stand in billions of rupees from China. Sources added that all progress about EDI system is regularly monitored by the FBR.
Sources also said that if this system will expand with other countries it will save billion of loss to the national exchequer in the term of tax evasion and under-invoicing.
