FBR and ADB, reviews tax reforms to increase revenue

FBR has shared information regarding tax reforms progress, specially in customs department with ADB to increase revenue collection.

The Fed­eral Board of Revenue (FBR) and Asian Development Bank (ADB) on Wednesday reviewed progress of various tax reform projects to in­crease the revenue potential.

An official announcement said FBR chairman Ashfaq Ahmed shared the progress made on Integrated Transit Trade Management System with ADB delegation headed by John Hurley.

Giving specific details about customs trade facilitation at border crossing points (BCPs), the FBR chief said that facilitation of multi-agency administration and round-the-clock operationalisation and establishment of well-equipped import and export custom control zones at BCPs have been ensured.

For customs trade harmonization at BCPs, it was briefed that the least possible human interface between entry and exit points has been ensured for an enhanced trade facilitation.
The ADB delegation was apprised of broader revenue mobilization initiatives particularly in the realm of Pakistan Raises Revenue Program.