Daily Insights

Excise and Taxation Department Achieves a 100% Recovery Target

By 08/12/2021 March 25th, 2022 0 Comments

The Excise and Taxation department has achieved a 100% recovery target of taxes including property, professional, luxury, motor vehicle tax, and excise duty. The concerned authority had set a target of Rs 30.530 billion which has been achieved, and the recovery is 28% higher than last year.

The tax body has taken swift steps for the welfare of people. The department has waived the tax on widows and divorced women to provide relief. The Excise, Taxation and Narcotics Control Management has created an online tax portal in partnership with the Urban unit. Through the tax self-assessment portal, citizens can make accuracy or change in the records of their property while sitting at home or in the office. Other advancements have also been done by the Excise department, including E-payment ( pay tax at home) and E- auction ( online transaction between buyer and seller).

The tax department has also played a remarkable role in combating money laundering and terror financing by strengthening the AML act 2010. According to the Anti-Money Laundering Act, real estate agents will have to register themselves as Designated Non-Financial Businesses and Professions (DNFBPs) with the Federal Board of Revenue (FBR). The Government has completed 26 of the 27 action items given by FATF with the regulatory efforts. Some phenomenal steps have also been taken against land encroachment in Pakistan. The incumbent government has introduced Pakistan Citizen Portal where people can address their complaints against land encroachers and “qabza” mafia groups if their or someone else’s land or state is being encroached upon.

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