Pakistan’s tax collection authority, Federal Board of Revenue (FBR), has decided to track and monitor the clearances of duties/taxes paid items from around 100 units of cement, sugar and fertilizer sectors under the automated Track and Trace System (TTS).
The FBR has decided to bring 100 units of cement, sugar and fertilizer sectors under the automated TTS next month. According to media report, the implementation of the TTS will play a key role in curbing alleged tax evasion of billions of rupees annually.
For this purpose, the FBR would issue Request for Proposal (RFP) soon for seeking applications from interested parties to provide technological solutions to determine the real production and check large-scale revenue leakage.
There were around 40 cement plants, four fertilizers units and 48 sugar units.
Representative trade body of cement industry – All Pakistan Cement Manufacturers Association (APCMA) is yet to comment on the government’s initiative but apparently, all the cement manufacturers are legitimate tax payers and no evasion of tax was ever reported.