Aurangzeb discusses tax strategies

ISLAMABAD: The Federal Board of Revenue (FBR) has constituted a focal committee to develop various initiatives and reforms to broaden the tax base, improve tax compliance, and reduce revenue leakages.

The committee will receive feedback from three distinct working groups working on these targets to develop larger and more uniform recommendations to present to the prime minister, a senior tax official told Dawn on Monday.

On Monday, Finance Minister Muhammad Aurangzeb chaired the Steering Committee Meeting on the Pakistan Raises Revenue Programme (PRRP). The committee was constituted under the World Bank project to reform the FBR.

An official announcement said the meeting focused on strategies to enhance Pakistan’s revenue generation capacity. During the meeting, participants discussed various initiatives and reforms to broaden the tax base, improve tax compliance, and reduce revenue leakages. The committee explored innovative approaches to enhance the efficiency of tax collection mechanisms and ensure equitable distribution of the tax burden.

The meeting concluded with a strong consensus on the need for concerted efforts to implement the PRRP and achieve its objectives. The government will continue to engage with stakeholders and take necessary steps to ensure the successful implementation of the program.

The majority of this committee’s members also serve on two other committees, resulting in duplication of work.

Published in Dawn, August 27th, 2024