He was addressing a news conference alongside Minister for Information and Broadcasting Attaullah Tarar and Minister of State for Finance Ali Pervez Malik in Islamabad today.
Muhammad Aurangzeb said taxation reforms have a key role in fiscal stability. He said the country has been languishing between 9-10 percent in terms of tax to GDP ratio but we have set a target of 13.5 percent for the next three years to improve this standing.
The finance minister said the digitalization of FBR is aimed at enhancing transparency. He said that approval of the design phase of digitalization was given by Prime Minister Shehbaz Sharif in September this year and now we are in the execution phase of this process.
Govt to bar non-taxpayers from opening bank accounts
Muhammad Aurangzeb said while bridging the tax gap and controlling tax leakages, every possible effort will be made to ensure that the common man does not suffer.
Earlier, Minister of State for Finance and Revenue Ali Pervez Malik said improved governance and economic management during the last few months of the incumbent government have yielded results.
He said the inflation rate has dropped significantly and the fruits of our economic reforms have reached the common man.
The minister of State underlined the need for increasing revenue and tax sources along with making the taxation process judicious so it does not burden a particular segment of society, especially the common man.
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