Mansoor Sadiq

The World Bank (WB) is pleased with the success of the Pakistan Raises Revenue Programme (PRRP), which aims to widen the tax base and domestic collections, an official of the Federal Board of Revenue (FBR) told WealthPK. According to preliminary findings, the World Bank is happy with the project's development because of major reforms in simplifying tax regimes, automating tax administration, widening the tax net, harmonising GST, and so on.

According to the FBR official, a meeting was held to discuss the status of the PRRP between Chairman FBR Asim Ahmad and Country Director of the World Bank to Pakistan Najy Benhassine. The FBR chairman told the meeting that the initiative will further boost Information Communication Technology based tax administration by upgrading and strengthening FBR IT-based skills. The FBR and World Bank decided to pursue the project's reform agenda with increased zeal and attention in order to achieve all of the targeted benefits.

The World Bank has just completed the programme's mid-term review, which runs from October through November 2022. The FBR has been implementing PRRP with the World Bank's financial help, he said, adding that the programme was projected to contribute to a steady rise in domestic collections by extending the tax base and making compliance easier.

Credit : Independent News Pakistan-WealthPk