Islamabad: The government on Wednesday announced its decision to use data pertaining to power distribution companies (DISCOs) and telecom companies in a bid to broaden the tax base, a news source reported. For this purpose, it will launch a fully automated system for sales tax registration, which will become operational from July 1.
During a meeting of the Finance Standing Committee, Federal Board of Revenue (FBR) Chairman Nausheen Javaid stated that that the new system would record unreadable evidence as video obtained from the premises. In this regard, the government will provide the hardware and software required to DISCOs and telecom companies, along with asking for complete information of their customers, officials concerned informed the meeting.
The Finance Committee stated that they would review the progress made by the tax authorities via the said system by November. The committee has also approved the abolishing of capital value tax (CVT) on properties and shares in the federal capital territory.
