Islamabad: A comprehensive plan has been devised to tackle the country’s undocumented economy, limited tax base, and dependence on regressive taxation, the National Assembly was informed today. The initiative is part of a broader effort to reform the national tax system, as indicated by recent developments in the legislative body.
According to a statement by Ministry of Information and Broadcasting, Minister of State for Finance Ali Pervaiz Malik revealed that reforming the tax system is a key priority for the government. During the Question Hour in the House, Malik emphasized that Prime Minister Shehbaz Sharif has sanctioned a transformation plan for the Federal Board of Revenue (FBR).
Malik stated that efforts are underway to enhance the capacity of both the FBR and customs. These measures are aimed at improving tax collection and addressing the challenges posed by an undocumented economy.
The National Assembly session was adjourned due to a lack of quorum and is scheduled to reconvene tomorrow at 2 p.m.