FBR monitoring of key industries is being tightened under a new mechanism meant to improve sales tax collection and curb tax evasion, in line with targets agreed with the IMF, ARY News reported on Thursday.
Under a new notification, factories in several sectors will face enhanced production monitoring to ensure sales and tax liabilities are reported accurately.
The covered industries include manufacturers of packaged tea, ghee and edible oil, electronics and home appliances, paper and cardboard, leather products, garments, textiles and ginning, beverages, bottled water, tiles and packaged milk.
The main requirement is that manufacturers have their production monitored for three years through FBR-approved monitoring and digital labelling companies. They must obtain monitoring equipment from one of these firms, which officials named as Obzidian Technologies, Tollink Pakistan, Authentic and ISSM Labelling.
The data collected will help authorities determine actual sales and make sure sales tax is paid correctly. The report did not give any specific revenue targets or other figures.
Source: ARY News
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