Pakistan Aims for Cashless Economy, FBR Reforms to Boost Tax Net

Pakistan Aims for Cashless Economy, FBR Reforms to Boost Tax Net

Prime Minister Shehbaz Sharif declared on Friday that his government is working on multiple fronts to make Pakistan rely less on cash while it improves FBR operating systems. During his gathering with Pakistan Retail Business Council delegates the Prime Minister made public his government’s economic transformation strategy.

The Prime Minister established an exclusive committee to help retailers by ensuring tax-compliant stores maintain their current tax obligations. Mr. Sharif wants the government to enlarge its tax system by adding retailers who avoid paying taxes and boosting control of fake imported goods. He wants businessmen to implement modern methods of production across their businesses to succeed in foreign markets and increase exports.

The delegates praised how the government stopped economic decline through retailer inclusion and tax base expansion policies. The delegation praised these government actions because they saw them creating long-term benefits for Pakistan’s economy and praised the government team that works to help taxed businesses. 

The talks between the government and retail sector representatives move Pakistan forward on its economic path and strengthens its official retail structure.

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