AI expanding the tax net help the FBR to collect Rs.413 billion in July 2021

FBR: The meeting of the APEX Committee on increasing the tax base and integrating retail firms, which was held at the Finance Division, was led over by Shaukat Tarin, the Federal Minister of Finance and Revenue.

The meeting was attended by the SAPM on Finance and Revenue, Dr. Waqar Masood, Chairman of the Federal Board of Revenue, and other senior executives.

In his opening remarks, the Finance Minister congratulated the Federal Board of Revenue (FBR) on achieving a record revenue collection of Rs. 413 billion in July 2021, which was 21 percent higher than the target set for the month.

He went on to say that the government’s smart strategies for sustainable economic growth are reflected in the government’s outstanding tax collection performance.

‘This implies that fiscal consolidation efforts are proceeding as planned, with a particular emphasis on broadening the tax base through the use of artificial intelligence and other innovative methods of bringing more individuals into the tax net,’ he continued.

In his final remarks, the Finance Minister encouraged the Federal Bureau of Revenue to continue its meticulous efforts to improve tax collection.

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