DG Customs Intelligence will be able to profile traders, industrialists and track their activities, sources FBR (Photo: File)
Islamabad: The Federal Board of Revenue has started work on establishing a comprehensive data bank by collecting data on all the country’s major traffickers, their backers and their financiers.
Sources responsible for FBR said that under the Federal Board of Revenue reforms, the Director General of Customs Intelligence and Investigation will be able to develop profiles of traders and industrialists in the country and track the activities of traders and industrialists.
Sources said that the Directorate General of Customs Intelligence and Investigation is also being reorganized under the ongoing tax reforms in FBR and large-scale reforms are being introduced in the Directorate General of Customs Intelligence and Investigation.
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Under these reforms in the Directorate General of Customs Intelligence and Investigation, these powers are being given to the DG Customs Intelligence and Investigation under which the DG Customs Intelligence and Investigation of all traders and industrialists of the country. It will profile and track the activities of these traders and manufacturers.
Integrity reports will be monitored regularly and actions will be taken accordingly. Sources said that this data bank will not only be used to end trafficking but also to prevent other crimes including financial crimes.
Sources said that as a result of the above measures, it will also help to prevent other negative trends including under-invoicing, over-invoicing, mis-declaration, tax evasion, which will also increase tax collections and tax net and tax-to-GDP ratio. There will be a substantial increase.
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