WB satisfied with implementation progress on revenue project

ISLAMABAD: The World Bank has expressed satisfaction on the progress about implementation of Pakistan Raises Revenues (PRR) project costing $400 million aimed at broadening tax base in the country.

According to the FBR statement issued on Thursday, a meeting was held between Chairman FBR Asim Ahmad and Country Director World Bank Najy Benhassine to review the progress of the Pakistan Raises Revenue Program at the headquarters of FBR.

The FBR is implementing Pakistan Raises Revenue Program (PRRP) with financial assistance from the World Bank. The program is expected to contribute to a sustainable increase in domestic revenue by broadening the tax base and facilitating compliance.

The World Bank has recently concluded the midterm review of the program in October to November 2022. Based on initial findings the World Bank has expressed overall satisfaction with the progress of the project due to major reforms in simplifying tax regime, automating tax administration, expanding tax net and harmonising GST.

The Chairman FBR praised the efforts of the teams on both sides and added that the program is going to further strengthen Information Communication Technology (ICT) based tax administration through upgrading and enhancing IT based capacities of FBR.