Islamabad: Federal Board of Revenue (FBR) and Punjab Information Technology Board (PITB) will sign a memorandum of understanding (MoU) for the exchange of data, a news source reported. The MoU will help with exchange of data for the purpose of revenue mobilisation and broadening the tax base.
FBR has decided to sign the MoU with PITB for the mutual sharing of knowledge, technical expertise for data access, data sharing, and data integration, and sharing of resources. The step is expected to help with enhancing the revenue mobilisation.
It is expected that both authorities will sign the memorandum for a period of two years. The resultant integration of data will ensure a one-window facility for the sole proprietors and association of persons (AOPs). Additionally, it will help ease access to the Case Flow Management System (CFMS) for the Lahore High Court (LHC), assist in broadening the tax net through mutual sharing of data, exchange of technical expertise in data analytics and sciences for risk-based analysis, facilitate people for online payment of FBR taxes, and offer a user-friendly experience of online tax filing on IRIS.
With the MoU signed, tax authorities will be able to access the PITB data, and help them expand the tax net.