The National Database and Registration Authority (NADRA), Securities and Exchange Commission of Pakistan (SECP), Punjab Information Technology Board (PITB), Accountant General Pakistan Revenues (AGPR), State Bank of Pakistan (SBP), 1LINK, telcos, and Punjab Land Record, according to the Annual Performance Report (2020-21), have established functional data bridges with provincial revenue agencies and other state departments across the country.
According to the report, the FBR lacks the ability to evaluate huge data in order to discover tax evasion. It was highlighted that the establishment of ICT infrastructure and a well-resourced data analysis and research unit to integrate and analyze big data while maintaining acceptable data security may pave the road for the organization’s capacity to be increased.
According to the Annual Performance Report, funding agencies and internal drivers have stressed the need of developing ICT infrastructure and technical capabilities to integrate and analyze big data while maintaining data security. FBR aspires to be a clever, contemporary, and fair tax institution in this regard. The goal is to encourage voluntary tax compliance by implementing open regulations and a user-friendly tax system.
Domestic income mobilization, according to the research, is critical for achieving sustainable development and creating budgetary room to pay public spending. The current tax changes seek to stimulate economic growth and create an investment-friendly climate by encouraging voluntary tax compliance and lowering administrative and compliance expenses for taxpayers.
The FBR changes, according to the study, have concentrated on integrating third-party databases from NADRA, SBP, AGPR, and provincial governments with FBR’s centralized databases and a single system for submitting federal and provincial sales tax reports.