ISLAMABAD: The Federal Board of Earnings (FBR) has actually decided to roll out the much-awaited Track & Trace System to cover cigarette manufacturing across the nation from November apparently to reduce tax evasion and also punish illicit trade, a top tax obligation authorities said on Thursday.
The system will enter result from Nov 1 as well as the extent will be reached cigarette manufacturing devices situated inside Azad Jammu as well as Kashmir, stated FBR Chairman Dr Muhammad Ashfaq Ahmed.
He claimed that with implementation of the Track & Trace System as well as its extension into AJK paired with Inland Revenue Enforcement Network’s (IREN) drive would aid get rid of the hazard of counterfeit, illegal as well as non-tax paid cigarettes on the market.
Dr Ashfaq stated that AJK federal government had approached the FBR to expand the range of the track & trace system to cigarette production systems situated inside AJK area.
The cigarette producers contributed around Rs130 billion as obligation as well as tax obligations in FY21.
A comprehensive analysis of the market by Federal Tax obligation Ombudsman shows that the FBR’s total profits collection has actually published growth in FY21, however the shortage at RTO Peshawar is obviously not understandable from the industry.
During the preliminary evaluation, the FTO secretariat found out some obviously unexplainable spaces between the tax prospective and also tax income added by tobacco/cigarette industry in Pakistan.