PM instructs FBR to upgrade tax system in line with latest technology

ISLAMABAD: Presiding over the session on Thursday with Federal Board of Revenue (FBR) huddle Prime Minister Imran Khan noted expanding tax base of the country is critical for economic stability in the country, ARY News reported.

Special Assistant to Prime Minister (SAPM) on Finance Dr Waqar Masood, representing FBR, briefed PM Imran Khan on a number of tax reforms introduced to and by the revenue board in order to improve the tax system and also on their implementation.

The Prime Minister said the induction of the latest technology in the system is mandatory for tax reforms noting that the revenue body needs to adapt to the new lines.

He pointed out that unnecessary withholding taxes should be scrapped from the system to encourage the businesses and consumers, and advised the board to ease the system complications for the taxpayer stressing specifically on those while filing tax returns.

READ: PM calls for facilitating people seeking low-cost housing loans

He said small and medium enterprises or the SME industries are the priority for the incumbent government and that government will devise policies to uplift them. PM Khan also advised the revenue body to introduce reliefs for the traders especially.

Separately, Earlier today, the Prime Minister issued directives for facilitating the poor reaching out to banks for the provision of subsidized loans under the government’s low-cost house financing scheme in every possible way.

Chairing a weekly meeting of the National Coordination Committee (NCC) on Housing, Prime Minister Khan instructed that care should be taken to preserve the dignity of the people acquiring loans.