{"id":74923,"date":"2021-03-18T15:30:36","date_gmt":"2021-03-18T10:30:36","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=74923"},"modified":"2021-03-18T15:30:41","modified_gmt":"2021-03-18T10:30:41","slug":"fbrs-tracking-system-crucial-avoiding-indirect-taxes","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/fbrs-tracking-system-crucial-avoiding-indirect-taxes.html","title":{"rendered":"Implementation of FBR&#8217;s tracking system crucial to avoiding indirect taxes: PM"},"content":{"rendered":"\n<p>Islamabad: Prime Minister (PM) Imran Khan has termed the Track and Trace (T&amp;T) System of the Federal Board of Revenue (FBR) a crucial tool to curb tax evasion practices, a news source reported. The T&amp;T system is designed to reduce human interaction and ensure proper payment of taxes in addition to providing a safe guard against leakage of revenue and underreporting.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/fbr-to-launch-crackdown-on-commercial-property-owners.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR to launch crackdown on non-taxpaying commercial property owners<\/a><\/p>\n\n\n\n<p>The premier expressed these views while chairing a meeting of the federal cabinet on March 16. Federal Minister for Law and Justice Barrister Farogh Naseem was also present on the occasion.<\/p>\n\n\n\n<p>PM Khan stated that such evasive tactics lead to the imposition of indirect taxes, therefore causing hike in prices of everyday necessities. Moreover, he tasked Minister Naseem with vacating the stay order passed by the Sindh High Court (SHC) on implementation of the automated T&amp;T System. He opined that the non-implementation would lead to losses worth billions of rupees to the national exchequer.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/fbr-committee-formed-to-address-sindhs-tax-related-concerns.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR committee formed to address Sindh\u2019s tax-related concerns<\/a><\/p>\n\n\n\n<p>According to the premier, big sections of the economy including the tobacco, <a href=\"https:\/\/www.zameen.com\/news\/cement-sector-posts-growth-16-28-january.html\" target=\"_blank\" rel=\"noreferrer noopener\">cement<\/a> and sugar industries have continuously defaulted on billions of rupees over the past five years. The sugar industry had failed to pay taxes of PKR 400 billion and only two companies in the tobacco industry were regular taxpayers, while the remaining 40pcs were in default, he said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Prime Minister (PM) Imran Khan has termed the Track and Trace (T&amp;T) System of the Federal Board of Revenue (FBR) a crucial tool to curb tax evasion practices, a news source reported. The T&amp;T system is designed to reduce human interaction and ensure proper payment of taxes in addition to providing a safe guard against leakage of revenue and underreporting. Read: FBR to launch crackdown on non-taxpaying commercial property owners The premier expressed these views while chairing a meeting of the federal cabinet on March 16. Federal Minister for Law and Justice Barrister Farogh Naseem was also present on the occasion. PM Khan stated that such evasive tactics lead to the imposition of indirect taxes, therefore causing hike in prices of everyday necessities. Moreover, he tasked Minister Naseem with vacating the stay order passed by the Sindh High Court (SHC) on implementation of the automated T&amp;T System. He opined that the non-implementation would lead to losses worth billions of rupees to the national exchequer. Read: FBR committee formed to address Sindh\u2019s tax-related concerns According to the premier, big sections of the economy including the tobacco, cement and sugar industries have continuously defaulted on billions of rupees over the past&hellip;<\/p>\n","protected":false},"author":75,"featured_media":61667,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015,15016],"tags":[19230,2036,45543],"persona":[],"class_list":{"0":"post-74923","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-legal-taxation","8":"category-new-developments","9":"tag-federal-board-of-revenue-fbr","10":"tag-tax-evasion","11":"tag-track-and-trace-system","12":"cat-15015-id","13":"cat-15016-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FBR&#039;s tracking system crucial to avoiding indirect taxes - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: Prime Minister (PM) Imran Khan has termed the Track and Trace (T&amp;T) System of the Federal Board of Revenue (FBR) a crucial tool to curb tax\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/fbrs-tracking-system-crucial-avoiding-indirect-taxes.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FBR&#039;s tracking system crucial to avoiding indirect taxes - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: Prime Minister (PM) Imran Khan has termed the Track and Trace (T&amp;T) System of the Federal Board of Revenue (FBR) a crucial tool to curb tax\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/fbrs-tracking-system-crucial-avoiding-indirect-taxes.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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