FBR launches directory to monitor tax collection from withholding agents
Federal Board of Revenue (FBR) has launched a digital directory across the country for the withholding agents.
The directory would serve as a management information system (MIS) to monitor real-time tax collection received under various sections of withholding tax. The system has the capability to analyze current withholding data with historical withholding collections. It enables FBR to broaden the withholding tax regime by enforcing the withholding agents to compliance with the tax laws. FBR can benefit from this system by increasing revenue collections from withholding tax regime, and reducing the tax evasion pertaining to non-compliant withholding agents.
The salient features of the directory include Withholding Tax Collection Report (RTOs/LTUs); Withholding Tax Collection Report (Range/Units); Sectorial Withholding Tax Collection Report; Section wise Withholding Tax Collection Report; Withholding Agent’s Monthly Tax Collection Report; Withholdee’s Monthly Tax Collection; Graphical Dashboards; Comparison of Withholding Tax Collection with Preceding Year’s Withholding Tax Collection; and Sending Reminders to field officers for enforcement.
A practical demonstration of the directory was also arranged in the FBR House for Chairman FBR Dr. Muhammad Irshad, Member IR Operation and team. The Chairman FBR appreciated the real time availability of Withholding data and hoped the use of Digital Directory would enable the Tax Collectors to take real time decisions which will subsequently improve the tax collection.