Connect with us

Latest News

PM Shehbaz would stop at nothing to fight tax evasion.

Published

4 months ago

on

During a high-level discussion at the Prime Minister’s House, the premier made statements about revenue improvement tactics, economic digitization, and tax reforms.

The Federal Board of Revenue (FBR) is crucial to the country’s economy, Prime Minister Sharif stressed during his speech to the assembly. He promised to supply the FBR with all the tools required to support their efforts to digitize and grow their human resource base.

Ensuring that the rich pay their fair share of taxes requires a broader tax net, as the prime minister stressed. It was pointed out by him that the new budget places a disproportionate amount of tax burden on the wealthiest members of society while placing little taxation on the middle and lower classes.

The prime minister said, “The government’s top priority continues to be reducing the tax ratio while expanding the tax base.” Plans to fully digitize the tax system were presented, with the goal of improving worker productivity and expediting tax collecting procedures.

Along with calling for quick action, Sharif also suggested using digital tools to increase tax revenues and document the economy. He gave the order for officials to move quickly to bring more people under the tax roof.

The premier was informed about the latest developments in revenue enhancement and the digitization of the FBR over the last four weeks by global businesses McKinsey and Karandaz during the meeting. Plans were also presented for short- and medium-term tax revenue growth.

Reiterated was the possibility of generating billions of rupees in additional tax income if current measures were fully implemented. Revenue growth and accurate documentation of economic activity are anticipated outcomes of the economic value chain’s digitization and automation.

Premier Sharif also directed federal secretaries and department heads to interact directly with the Task Management System, which is cutting edge software used to track the implementation of directions from the prime minister to federal ministries.

At a meeting tasked with evaluating the Task Management System’s deployment, the Prime Minister declared that daily system usage evaluations will guarantee that all projects are completed on time. He underlined the need for ongoing observation to ensure advancement.

There was information presented to the meeting on the development of a mobile application for the task management system.

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

Minutes after taking off from Lahore airport, a private airline plane was “hit by a bird.”

Published

11 hours ago

on

By

Details show that an aircraft from Lahore to Karachi took off from the airport in Lahore, but it made a problematic landing a few seconds later.

The aircraft carrying 180 passengers was successfully landed at the Lahore airport by the pilot. They have moved the passengers of the impacted flight to the airport lounge.

Bird strikes on aircraft have been documented occasionally at the nation’s airports, yet the problem persists in spite of the CAA’s assertions.

In the first 11 months of 2022, birds struck at least 57 Pakistan International Airlines (PIA) aircraft.

Details indicate that PIA published a report on aircraft struck by birds in 2022.

53 bird-hit instances were documented between January and October, and four incidents were logged in November, the study states. The airport in Lahore International was the site of most of the incidents.

According to the research, five of the 57 PIA aircraft were damaged in 2022 due to bird collisions, but the aircraft were spared significant damage in 59 instances.

In addition, the birds struck twelve PIA planes during approach, eight during takeoff, and 21 after landing.

Continue Reading

Latest News

Deputy Prime Minister to Represent Pakistan at CHOGM in Samoa in 2024

Published

11 hours ago

on

By

Senator Muhammad Ishaq Dar, the deputy prime minister and foreign minister, will lead Pakistan’s delegation to the Commonwealth Heads of Government meeting in Samoa.

Pakistan’s views on major global issues and concerns will be discussed at the conference by the Deputy Prime Minister, who will concentrate on climate change, economic growth, and enhancing international collaboration within the Commonwealth.

His keynote speech at the Commonwealth Business Forum on “Transforming Our Workforce” will focus on Pakistan’s focus on digital transformation, skill development, and youth empowerment.

He will converse with the heads of delegation from other Commonwealth nations as well.

Mumtaz Zahra Baloch, the spokesperson for the Foreign Office, said in a statement that Pakistan’s attendance at CHOGM 2024 is a reflection of its ongoing dedication to the Commonwealth and its ties with tiny island pacific nations.

Continue Reading

Business

China Contributes 43 New Foreign Firms to the 6% Growth in SECP Registrations

Published

11 hours ago

on

By

The Securities and Exchange Commission of Pakistan has registered 2,617 new firms this year, a 6% increase from 2023, with assistance from the Special Investment Facilitation Council. This increases the overall number of businesses that are registered to 231,111.

Non-profits, trade associations, and public unlisted firms make up 4% of these, while private limited corporations make up 55% and single-member companies 41%. It is noteworthy that 99.8% of the registrations were done online, demonstrating SECP’s attempts to digitise.

Real estate has 237 new businesses, services has 306, and trade has 377 new businesses. These are the main sectors exhibiting growth. While the healthcare and textile industries each had 49 new businesses, the education sector saw 101.

China contributed the most, adding 43 new companies, out of the 61 new companies that were registered as a result of foreign investment.

These recently registered businesses are anticipated to decrease imports, increase domestic production, and contribute to closing the trade deficit.

Continue Reading

Trending