Islamabad: The Federal Board of Revenue (FBR) is looking to introduce a new system to reconcile tax collection with the statistics released by Accountant General of Pakistan, a news source reported. The new system will become functional in the beginning of next year.
The system will use data from a tax collection management system being operated at FBR’s field formation centres around the country. It will also automate verification and release of tax credit that will cover all taxes administered by Inland Revenue Services (IRS).
FBR will issue instructions on tax collection management and its accounting procedures will be issued for information and compliance by all in the field formation centres.
FBR, with the help of information technology department of Pakistan Revenue Automation Limited, will work to improve and redesign the tax payment recording system. The system will help keep record of tax payers and in turn, make it easier to identify tax defaulters.
