ISLAMABAD: Federal Board of Revenue (FBR) has launched a digital directory across the country for the withholding agents.
The directory would serve as a management information system (MIS) to monitor real-time tax collection received under various sections of withholding tax.
The system has the capability to analyse current withholding data with historical withholding collections. It enables FBR to broaden the withholding tax regime by enforcing the withholding agents to comply with tax laws.
FBR can benefit from this system by increasing revenue collections from withholding tax regime, and reducing the tax evasion pertaining to non-compliant withholding agents.
The salient features of the directory include withholding tax collection report, sectorial withholding tax collection report, section-wise withholding tax collection report, and withholding agent’s monthly tax collection report.
It also includes withholder’s monthly tax collection, graphical dashboards, comparison of Withholding tax collection with preceding years withholding tax collection and sending reminders to field officers for enforcement.
FBR chairman Dr. Muhammad Irshad conducted a practical demonstration of the directory.
He appreciated the real time availability of withholding data and hoped the use of the digital directory would enable tax collectors to take real time decisions which will subsequently improve tax collection.