Federal Minister for Finance and Revenue, Mr. Shaukat Tarin, presided over the meeting of the Economic Coordination Committee (ECC) of the Cabinet at the Finance Division today.
In ECC meeting Chairman FBR presented a summary to strengthen Inland Revenue Enforcement Network (IREN) to combat tax evasion and leakages of duties payable on specified goods through enforcement of Track & Trace system.
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The IREN will also check the goods supplied out of erstwhile FATA/PATA areas for ascertaining validity and conformity. The ECC considered and approved the summary. In his remarks, the Finance Minister, as a Chairman of ECC, stated that FBR will create goodwill and avoid harassment in enforcement of rules and regulations for collection of taxes and duties.
At the same time, FBR will take firm action to prevent tax evasion and broaden tax base to contribute into the national exchequer. A proper system of check and balance will be followed.
The Minister urged FBR to use latest technology based solutions for tax collection to reduce reliance on traditional enforcement methodology.