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FBR to monitor sales production of big beverages, cement companies

The Federal Board of Revenue (FBR) in Pakistan will start monitoring sales, production, and stock positions of big beverage and cement companies, including Coca Cola, Pepsi Cola, and Lucky Cement. The FBR has written to the Chief Commissioners Inland Revenue regarding monitoring of the cement and beverages sector. The FBR will post Inland Revenue officials in the mentioned companies’ premises to monitor production, sales, and stock positions. The FBR has already been monitoring tobacco factories and sugar mills, leading to an increase in revenue. The full potential of federal tax revenue in tobacco, cement, sugar, beverages, and fertilizer segments is yet to be realized. The FBR recently installed the Track and Trace system at the production line of each cement manufacturer, and officials are posted for 30 days to conduct initial stock-taking. The FBR has also formed IR Enforcement Units in different jurisdictions to examine and authenticate tax stamps and verify reports of unauthorized stoppage of production.

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