ISLAMABAD: Finance Minister Muhammad Aurangzeb has directed the Federal Board of Revenue (FBR) to detect cases of sales tax fraud and fake invoices, causing revenue loss to the tune of trillions.
Federal Minister for Finance and Revenue Muhammad Aurangzeb visited Federal Board of Revenue Headquarters today and held a meeting with Chairman FBR Malik Amjed Zubair Tiwana and Members of the Board to discuss various tax related initiatives of the Revenue Division.
During the meeting, discussions were held on Tajir Dost Scheme, different Information Technology projects and issues pertaining to tax fraud and fake invoices.
Reducing risk of sales tax fraud: FBR places curbs on various activities, transactions
Regarding Tajir Dost Scheme, the Minister said that the Scheme envisions bringing small traders into the tax net and the Government is committed to make it successful in order to expand the tax base.
The Minister also called for devising an effective mechanism to unearth cases of tax fraud and fake invoices and ensure recovery of sales tax evaded through fraudulent ways.
Various other matters including revenue collection efforts and digitalization of FBR also came under discussion during the meeting.
Copyright Business Recorder, 2024
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