FBR to begin the electronic registration & monitoring

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ISLAMABAD: The Federal Bureau of Revenue has announced that it is beginning electronic registration and monitoring of businesses in over 12 fields.
Restaurants, courier services, transport, hotels and beauty parlors are included in the list, according to the bureau’s spokesperson, local media reported on Sunday.
Private hospitals, medical practitioners, laboratories and pharmacies will be monitored online. Gyms, health clubs and fitness massage centres will be tracked through electronic registration systems. The order will be valid in eight big cities across the country, including Karachi, Lahore and Islamabad.
It is important to mention here that FBR is likely to miss the tax collection target by around Rs1500 billion during ongoing fiscal year mainly due to slowdown in economic activities due to coronavirus.
Federal Minister for Planning Asad Umar on Saturday said that tax collection could reduce by Rs1400-Rs1500 billion during ongoing financial year. The federal government had set ambitious tax collection target of Rs5550 billion for the ongoing financial year. However, later, the International Monetary Fund (IMF), on the request of Pakistan, had reduced the tax collection target to Rs5270 billion from the budgetary projection of Rs5550 billion. – TLTP