Latest news with #PakistanRevenueAutomationLimited
Business Recorder
3 days ago
- Business
- Business Recorder
FBR reforms: PM Shehbaz orders 3rd-party validation
ISLAMABAD: Prime Minister Shehbaz Sharif on Monday directed the authorities to enlist internationally recognised firms to conduct third-party validation of reforms under way in the Federal Board of Revenue (FBR), as part of broader efforts to combat corruption and improve institutional transparency. The prime minister, while chairing a high-level review meeting on FBR's performance, said that the government is committed to transforming Pakistan into a stable global economy through sustained institutional reforms. Sharif linked the reform drive to what he described as a 'historic' victory in the recent military conflict with India, stating that 'Pakistan must now channel its national momentum into economic rebuilding.' Faceless customs assessment system: PM orders countrywide enforcement 'After our historic victory, it's time to show the same resolve in rebuilding and reforming,' he said. 'We are determined to turn Pakistan into a stable global economy.' He said institutional reforms were being implemented rapidly across sectors, with a particular focus on eliminating corruption and improving transparency in governance. He expressed satisfaction with recent progress in the FBR, particularly highlighting the performance of the newly introduced Faceless Customs Assessment (FCA) system. The FBR officials briefed the PM that the FCA system – designed to reduce human discretion in customs clearance – had resulted in a rise in revenue and a reduction in clearance times. He was also informed about ongoing reforms at Pakistan Revenue Automation Limited (PRAL), which is leading the digitisation of tax services. It was briefed that a simplified digital tax return system is expected to be launched soon, with interfaces available in Urdu and other local languages to improve accessibility for taxpayers. Expressing satisfaction with the ongoing reforms at FBR, Sharif said the engagement of global auditing firms would help validate the reform process and ensure credibility and transparency. He reaffirmed the government's commitment to economic stability and reform. 'Insha'Allah, we will succeed in making Pakistan economically stable,' he said. The meeting was attended by Law Minister Azam Nazeer Tarar, Information Minister Attaullah Tarar, the chairman of the FBR Rashid Mahmood Langrial, and senior officials from relevant departments. Copyright Business Recorder, 2025
Business Recorder
3 days ago
- Business
- Business Recorder
FBR reforms: PM orders 3rd-party validation
ISLAMABAD: Prime Minister Shehbaz Sharif on Monday directed the authorities to enlist internationally recognised firms to conduct third-party validation of reforms under way in the Federal Board of Revenue (FBR), as part of broader efforts to combat corruption and improve institutional transparency. The prime minister, while chairing a high-level review meeting on FBR's performance, said that the government is committed to transforming Pakistan into a stable global economy through sustained institutional reforms. Sharif linked the reform drive to what he described as a 'historic' victory in the recent military conflict with India, stating that 'Pakistan must now channel its national momentum into economic rebuilding.' Faceless customs assessment system: PM orders countrywide enforcement 'After our historic victory, it's time to show the same resolve in rebuilding and reforming,' he said. 'We are determined to turn Pakistan into a stable global economy.' He said institutional reforms were being implemented rapidly across sectors, with a particular focus on eliminating corruption and improving transparency in governance. He expressed satisfaction with recent progress in the FBR, particularly highlighting the performance of the newly introduced Faceless Customs Assessment (FCA) system. The FBR officials briefed the PM that the FCA system – designed to reduce human discretion in customs clearance – had resulted in a rise in revenue and a reduction in clearance times. He was also informed about ongoing reforms at Pakistan Revenue Automation Limited (PRAL), which is leading the digitisation of tax services. It was briefed that a simplified digital tax return system is expected to be launched soon, with interfaces available in Urdu and other local languages to improve accessibility for taxpayers. Expressing satisfaction with the ongoing reforms at FBR, Sharif said the engagement of global auditing firms would help validate the reform process and ensure credibility and transparency. He reaffirmed the government's commitment to economic stability and reform. 'Insha'Allah, we will succeed in making Pakistan economically stable,' he said. The meeting was attended by Law Minister Azam Nazeer Tarar, Information Minister Attaullah Tarar, the chairman of the FBR Rashid Mahmood Langrial, and senior officials from relevant departments. Copyright Business Recorder, 2025
Express Tribune
4 days ago
- Business
- Express Tribune
Govt working tirelessly to eliminate corruption and lack of transparency: PM
Listen to article Prime Minister Shehbaz Sharif said Monday that institutional reforms are progressing rapidly across all sectors, as part of a broader effort to eliminate corruption and address persistent gaps in transparency. 'All government institutions are working tirelessly to eliminate corruption and other deficiencies, such as lack of transparency,' Shehbaz said while chairing a high-level meeting on Federal Board of Revenue (FBR) reforms in Islamabad. READ MORE: PM purges FBR of corrupt officials The prime minister directed officials to engage internationally recognised audit firms for third-party validation of reforms underway within the FBR to ensure credibility and external accountability. Shehbaz also reviewed the performance of the Faceless Customs Assessment System, a key initiative launched to minimise human interference in customs processes. He expressed satisfaction, noting that the system had improved revenue collection and significantly reduced clearance times. READ MORE: Rs600m corruption unearthed in Dasu project He reaffirmed that the government's reform agenda, bolstered by recent economic indicators, is evidence that the country is moving in the right direction. Officials at the meeting briefed the prime minister on the Pakistan Revenue Automation Limited (PRAL) reforms, and announced that a simplified digital tax return system would soon be introduced, including features in Urdu and other local languages to assist the general public. The meeting was attended by Minister for Law and Justice Azam Nazeer Tarar, Minister for Information and Broadcasting Attaullah Tarar, the FBR Chairman, and other senior officials. READ MORE: Tax shortfall exceeds Rs1 trillion Previously, Prime Minister Shehbaz had directed the urgent and effective implementation of ongoing reforms within the FBR, placing particular emphasis on the digitisation and automation of the country's tax system. In a meeting Shehbaz called for decisive action to rectify what he described as '70 years of mismanagement' in Pakistan's tax infrastructure. He reiterated that while honest taxpayers and businesses would be fully supported, those involved in evasion would face firm legal consequences without exceptions. Shehbaz also commended the FBR and its enforcement arms for their recent efforts in improving tax revenue, following the rollout of systems such as the Faceless Customs Assessment System.
Business Recorder
18-05-2025
- Business
- Business Recorder
Failures in POS integration system: Chainstore Association concerned at deteriorating environment for tax-compliant retailers
LAHORE: The Chainstore Association of Pakistan, representing the country's organized retail sector, on Saturday, expressed grave concern over the deteriorating environment for tax-compliant retailers due to aggressive revenue enforcement and persistent failures in the FBR-POS integration system. Comprising a large portion of Pakistan's retail and wholesale trade, the organized retail sector directly employs over one million people and supports a wide ecosystem including shopping malls, manufacturers, service providers, and the cottage industry. Retail brands are also a growing contributor to export earnings through physical stores abroad and cross-border e-commerce. Despite being early adopters of the FBR-POS system and generating 25–30% of their turnover in taxes, compliant Tier-1 retailers are now facing a perfect storm of high tax rates, increasingly complex procedures, punitive enforcement, and unresolved system issues. This year alone, several regulatory instruments including SRO 69(I)/2025, SRO 55(I)/2025 and the Tax Laws (Amendment) Ordinance 2025—have exacerbated compliance burdens without addressing critical FBR-POS system deficiencies. These include issues such as (1) POS profile expiry disconnections, rendering invoices unverifiable; (2) Incorrect POS status flags showing 'disconnected' despite active syncing; and (3) Weak support capacity of Pakistan Revenue Automation Limited (PRAL) to address technical challenges. Compounding these technical issues is an increasingly punitive enforcement approach. Several compliant outlets experiencing system errors have been sealed without prior notice, and many retailers report being pressured to pay penalties exceeding Rs500,000 per outlet to reopen, apparently to increase short-term tax collections. Such measures erode business confidence, damage reputations, and undermine long-term documentation efforts. 'We fully support strict action against wilful tax evasion, but the current approach is causing heavy collateral damage,' said Asfandyar Farrukh, Chairperson of CAP. 'Law-abiding retailers are being penalised for compliance, while vast sections of the informal market remain untouched. This is not reform it is a rollback in the making.' The reversal of key incentives has further compounded the crisis. The discontinuation of the 10–15% concessional GST rate for customers of integrated retailers has rendered many businesses uncompetitive vs the untaxed and undertaxed majority, leading to network consolidation and closures. In recent years, this reform vacuum has stalled employment growth, investment, and even export potential. CAP also calls for formal inclusion in policymaking processes to ensure that ongoing and future reforms are informed by on-ground realities. 'Compliant retailers who invested in technology and compliance should be recognized as partners in reform. CAP and its members wholeheartedly support broadening of the retail tax base - but it must be fair, functional, and future-focused,' said Tariq Mehboob Rana, CAP Patron-in-Chief. 'Unless the current issues are urgently addressed, years of progress towards the growth of the documented sector risk being reversed.' Copyright Business Recorder, 2025
Business Recorder
14-05-2025
- Business
- Business Recorder
Digital invoicing systems: ‘PRAL committed to rendering costfree services to taxpayers'
LAHORE: Pakistan Revenue Automation Limited (PRAL) is committed to render cost free services to all taxpayers for digital invoicing systems and its integration with FBR. This was announced by Abid Naeem General Manager PRAL while addressing APTMA members. He said that it is mandatory for all taxpayers to install and integrate Digital Invoicing System with FBR with effect from June 01, 2025 by corporate sector and by July 01 by non-corporate members. Earlier Asad Shafi Chairman APTMA North welcomed PRAL team and appreciated them for arranging awareness session on Digital Invoicing. He said that in terms of Rule 150Q of Sales Tax Rules, 2006 all taxpayers are required to electronically integrate their hardware and software used for generation and transmission of electronic invoices through licensed integrators. Asad said that under Rule 150XF PRAL has been notified as Licensed Integrator to provide free of cost integration services to taxpayers. He added that the initiative of PRAL to conduct awareness sessions all over the country will help for education, awareness and guidance of taxpayers. Asad hoped that the training on the new system would help tremendously to guide all taxpayers well before implementation of the system. Asad Shafi hoped that such seminars will shed light on how Digital Invoicing can transfer financial operations, streamline, emphasize and foster a more transparent and efficient system. Abid Naeem GM PRAL, emphasized the critical need for businesses to embrace technological innovations. He informed that PRAL as the licensed integrators provides end-to-end free of cost assistance with structured implementation and ongoing support. He said that PRAL offers direct integration and manages compliance with regulatory requirements, helping businesses to avoid penalties. He continued that direct integration relieves businesses from technicalities and enables them to handle compliance independently. Abid said that Pakistan's financial sector is undergoing a massive digital transformation. With the Federal Board of Revenue's SRO 69(I)/2025, businesses must adapt to new e-invoicing mandates to remain compliant to improve their transparency. He said that seminar, is aimed to simplify the transition process by highlighting practical steps and addressing any concerns that the market participants may have. He added that PRAL, remains committed to providing secure, efficient, and compliant digital solutions that empower organizations of all sizes. Abid said that PRAL has always championed digital innovation in Pakistan. It is enabling businesses to seamlessly integrate e-invoicing with existing ERP systems and workflows. He added such seminars are designed to address the common challenges and misconceptions around FBR-compliant invoicing, ultimately helping participants to realize the benefits of automation, enhanced visibility, and real-time data analytics. Copyright Business Recorder, 2025
