ISLAMABAD: Prime Minister Shehbaz Sharif has approved the establishment of a modern and internationally standardized digital ecosystem within the Federal Board of Revenue (FBR).
During a meeting to review progress on the ongoing reforms in the FBR, the prime minister observed that the economy was moving in a positive direction due to the recent reforms in FBR.
The meeting was briefed on the progress regarding the formation of a modern digital ecosystem aimed at centralizing FBR’s data and enabling real-time monitoring of the entire value chain.
The prime minister, while chairing the meeting, emphasized that not only digitization, but a comprehensive digital ecosystem should be established to strengthen the new system and directed that all the relevant data, from raw material production and import, to manufacturing of goods and the final consumers’ purchase, should be integrated into a single system.
The prime minister said the system should be made so effective that the entire value chain could be monitored digitally in real time.
He further opined that the centralized data collected under this system should be utilized for the economic strategic decision-making.
The prime minister stressed that the goal of reducing taxes for the common man could only be achieved by increasing the tax base and ending the informal economy.
