Nov 17, 2021: The FBR said in a press release that Prime Minister Imran Khan will inaugurate the Federal Board of Revenue’s (FBR) ‘Track and Trace System’ for the sugar industry on November 23 to provide electronic monitoring of product manufacture and sales.
The FBR on Tuesday said that the scope of electronic monitoring extends from the manufacture of products to the use of end users, thus generating much needed revenue for the country and preventing tax evasion in these areas. The press release said that with the introduction of electronic monitoring of the tobacco sector, the FBR is now implementing a “track and trace system” in the next major industrial sugar sector. This will be followed by other sectors including fertilizer and cement.
In this regard, FBR has already issued Sales Tax General Order (STGO). The STGO has ordered that from November 11, no bag of sugar will leave any production site, factory premises or manufacturing plant, without affixed stamps or unique identification marks (UIMs).
The Track and Trace System and many other similar initiatives and interventions are aimed at increasing revenue, promoting transparency and thus maximizing tax compliance in Pakistan. In the next phase, FBR plans to extend the system to Beverages and Petroleum sectors.
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