Govt working on broadening tax base: Tarin

ISLAMABAD: Federal Minister for Finance Shaukat Tarin has said the government is vigorously working on all its plans, including broadening of the tax base, integrating retailers with Point of Sale (POS) machines and launching of Kamyab Pakistan Program (KPP), for lending to poor segments at subsidised rates.

The minister also said that he was feeling perfectly well and would continue to work on his existing position. He said that he had undergone some minor surgery for placing one stunt into his heart. “I am feeling perfectly well and have been working everyday for more than 12 hours,” said the minister in a brief chat on Wednesday when asked about his health after undergoing angioplasty.

This scribe contacted Federal Minister for Finance Shaukat Tarin for verifying rumors with regard to his health and possibility of his acquittal by NAB. Tarin dispelled this impression strongly, saying that he was working for more than 12 hours and had fixed Pakistan Steel Mills (PSM) issues yesterday. He said that the revised power tariff was forwarded to regulator NEPRA and awaiting their assent.

The minister said the government would launch the Kamyab Pakistan Program after Moharram as the Ministry of Finance had allocated Rs25 billion in the budget for the current fiscal year in order to provide loans at subsidized rates. He said that the KP planned to launch the programme this week but he inquired from relevant banks how they would deal with the bulk of applicants after the launch of this scheme.

Dwelling upon broadening the narrowed tax base, the minister said the government would promulgate an ordinance for sharing of FBR data with Nadra for achieving the desired results. He said he had asked the FBR to insert these changes through the Finance Bill of 2021 but it could not be done at that time, so now an ordinance would soon be promulgated in order to pave the way for sharing the FBR data with Nadra for the purpose of broadening of tax base.

For sharing of FBR’s data, the government will have to promulgate an ordinance to amend Section 216 of Income Tax Ordinance 2001. The minister said that artificial intelligence would be used for the purpose of broadening the tax base.

When asked about installing a Point of Sale (POS) machine at tier-1 retailers, he said that the work was underway with full vigor to launch this scheme by the end of the ongoing month. He said the FBR had worked out that thousands of generated receipts through POS could be handled properly and it would be ensured that all receipts should have proper QR code, so that this scheme could become successful to achieve the desired objectives.