ISLAMABAD: Prime Minister (PM) Muhammad Shehbaz Sharif on Saturday approved the establishment of a modern, globally compliant digital ecosystem for the Federal Board of Revenue (FBR) and directed the recruitment of internationally recognized experts.
In a meeting to assess the FBR’s ongoing reforms, the prime minister noted that recent changes have steered the economy in a positive direction, according to a press release from the PM Office Media Wing.
The meeting was also attended by Ministers Muhammad Aurangzeb, Ahsad Khan Cheema, Minister of State Bilal Azhar Kayani, FBR Chairman, Chief Coordinator Musharraf Zaidi, economic experts, and other senior officials,
The meeting was briefed on the progress regarding the formation of a modern digital ecosystem aimed at centralizing FBR’s data and enabling real-time monitoring of the entire value chain.
PM Shehabz, while chairing the meeting, emphasized that not only digitization, but a comprehensive digital ecosystem should be established to strengthen the new system and directed that all the relevant data, from raw material production and import, to manufacturing of goods and the final consumers’ purchase, should be integrated into a single system.
The prime minister said the system should be made so effective that the entire value chain could be monitored digitally in real time.
PM Shehbaz was of the view that the centralized data collected under this system should be utilized for the economic strategic decision-making.
The prime minister stressed that the goal of reducing taxes for the common man could only be achieved by increasing the tax base and ending the informal economy.
Earlier, it was reported that FBR’s collection for the fiscal year 2024-25 has surpassed Rs. 1,017.8 billion according to written reply by the Ministry of Finance, submitted in the Senate
According to the Ministry of Finance, from July 2024 to June 2025, income tax totaled Rs. 628.3 billion, while sales tax collections touched Rs. 389.5 billion.
In the month of June 2025, the highest income tax collection of Rs. 125.9 billion was recorded, highlighting an impressive finish to the fiscal year.
The FBR also broadened its tax revenue base and added 280,197 new filers to the system. The number of return filers rose to 1,034,143, from 841,071 in total last year.
Set target for the income tax for the year 2024-25 was Rs. 480 billion, whereas the sales tax target was Rs. 400 billion. Fortunately, both targets were achieved.
With regard to sales tax refunds, the FBR paid Rs. 363.7 billion during FY 2024-25. In the last five years, the total accumulated refunds have escalated to Rs. 1,472.1 billion.
