MULTAN: Federal Board of Revenue is going to launch an industrial monitoring system very soon. Initially the industrial monitoring will be launched in specific industries.
In due course, various sectors may be added as it will assist to evaluate the tax returns of businessmen.
The government initiative will empower FBR officers to monitor production and sales of goods, purchase of raw material for goods and data of stocks available in the factories.
The approval of Finance Bill 2014-2015 will provide FBR officers power to inspect any industry without obtaining warrants from the Magistrate.
Tax collection will be increased through this major step and corruption in tax returns will be eliminated through electronic monitoring system.
Moreover it is also projected that taxes will be collected through utility bills of the consumers.
