Islamabad:Prime Minister Shehbaz Sharif has called for the completion of production monitoring systems for sales tax purposes across all manufacturing sectors by the end of the year.
According to Radio Pakistan, the Prime Minister issued this directive during a meeting in Islamabad aimed at reviewing reforms within the Federal Board of Revenue (FBR). During the meeting, he praised the FBR team for their efforts in assessing the manufacturing sector and its tax potential. He emphasized the importance of effective production monitoring through the use of cameras.
The Prime Minister expressed that businesses collecting taxes from consumers but failing to remit them should not receive any concessions. Meanwhile, he commended those in the manufacturing sector who are voluntarily implementing monitoring systems. The audit report on the production monitoring system in the cement sector also received his approval.
The meeting highlighted the efforts of the FBR team in compiling a comprehensive report on the discrepancy between tax potential and actual tax collection. It was noted that the monitoring system is fully installed in the sugar, cement, tobacco, tiles, and fertilizer sectors and is currently being deployed in the textiles, packaged water, packaged juice, and packaged milk sectors. The procurement of necessary equipment for these sectors has been completed, and the monitoring systems are expected to be fully operational by December 31.