ISLAMABAD
Finance Minister Shaukat Tarin has said that potential tax evaders have been identified and the Federal Board of Revenue (FBR) will soon issue notices to them.
Addressing the launching ceremony of Parliamentarians’ Tax Directory, Tax Year 2019, on Monday, Tarin said that FBR in collaboration with National Database and Registration Authority (NADRA) have identified the potential tax evaders by using artificial intelligence.
He stressed the need for enhancing tax to GDP ratio up to 20 percent within 6 to 7 years to achieve 7 percent annual economic growth. The finance minister said that the role of revenue collection is prerequisite to achieve sustainable economic growth and social prosperity, adding that the tax to GDP ratio has never exceeded 12 to 14 percent of the GDP during the last 74 years, which could be attributed to a wrong attitude about tax compliance.
The minister said that the government is determined to broaden the tax base and take several steps to bring potential tax payers under tax net to promote documentation of the economy through promoting fair, transparent and simplified tax compliance culture in the country.
Shaukat Tarin also stressed the need for simplifying revenue collection and removing distortions in the taxation system, besides eliminating variations in tax collection at federal and provincial levels and shifting towards progressive taxation. He added that the government is also taking steps to harmonise local revenue collections by taking the provincial governments on board.
The minister appreciated the FBR for publishing tax directory and termed it a positive step towards promoting fair, transparent and simplified tax culture in the country, adding that the tradition of publishing tax directory of parliamentarians continued from 2013, which was aiming to promote tax compliance culture and bring transparency in the system.
Speaking at the occasion, Chairman FBR Dr Muhammad Ashfaq Ahmad said that tax directory of the members of Parliament was publishing from 2013 and this time FBR has improvised and further elaborated the directory for best reflection of the tax declarations of parliamentarians.
He said that it was approved by the cabinet in its last meeting, adding that he has also directed to publish the tax directory of the members of the parliament for tax year 2020, which will be finalised soon.
The event organised by FBR was also attended by the senior officials of the Ministry of Finance, members of FBR and directors generals of different departments of the board. TLTP
