Tax Reforms Aim to Ease Burden on Common Man: PM

Islamabad: Prime Minister Muhammad Shehbaz Sharif says ongoing tax reforms are aimed at reducing tax burden on common man. He was chairing a meeting in Islamabad today, on matters pertaining to Federal Board of Revenue.

According to Radio Pakistan, the Prime Minister said the reforms will increase tax net and government revenue. He stated that the amendments in various provisions of the Income Tax Ordinance and Federal Excise Act will remove obstacles in tax collection. Moreover, the amendments will make the tax payment system more convenient and will not affect the rights of individuals and companies who regularly pay taxes.

Shehbaz Sharif directed the relevant authorities to expedite measures against tax evasion, under-invoicing, and other irregularities in different sectors on priority basis. He also instructed strict legal action against the buying and selling of illicit cigarettes and other items.

The meeting was briefed about steps taken against tax evasion in tobacco, cement, poultry, sugar, beverages, and other industries. It was noted that work is underway on digital monitoring and track and trace system, and the Federal Board of Revenue has been successful in identifying irregularities in many industries through video monitoring. The meeting was informed that powers to seize illicit products have also been transferred to provinces.