Digitising tax system crucial for transparent collection: FinMin

WEB DESK: Finance Minister Muhammad Aurangzeb highlighted the importance of digitizing the tax system as a crucial step towards modernising tax collection.

This move, he stated, would not only enhance transparency but also lead to increased revenue growth. He made these remarks during a meeting with Jason Lamb, Deputy Director of Focus Country Implementation at the Bill & Melinda Gates Foundation.

The meeting, attended by Minister of State Ali Pervaiz Malik, Member Reforms FBR, and CEO Karandaaz, focused on various aspects of tax reform and digitalization efforts.

Minister Aurangzeb commended the support of the Bill & Melinda Gates Foundation in engaging McKinsey & Co. for the ongoing digitalisation process within the Federal Board of Revenue (FBR).

Additionally, Senator Muhammad Aurangzeb highlighted the importance of improving existing data sources to effectively utilise them for tax purposes. Minister of State Ali Pervaiz Malik contributed to the discussion by addressing the implementation challenges of RAAST, Pakistan’s instant payment system, and proposed strategies to enhance its functionality.

The meeting concluded with a strong commitment from all parties involved to continue collaborating towards the shared goal of modernising tax collection and fostering transparency in the system.

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