FBR New Password Policy & Advanced Stock Register System Key Updates
According to FBR, the new FBR New Password Policy states that users have to change their password every 60 days to achieve maximum security.
The policy further stated that the password will expire after 60 days and the user has to change it through the “forget password” feature.
However, the registration would require your mobile contact number and email, if lost, the process would get more complicated for the user.
In a separate development, the Federal Board of Revenue launched an advanced Stock Register system via the Information Center 2.0 platform to provide officers with real-time, in-depth access to registered persons’ data, bolstering transparency and securing compliance with Income Tax (IT) and Sales Tax (ST) regulations.
The board launched the system under the direction of the Chairman of FBR and as part of FBR’s comprehensive digitalization efforts to optimize tax administration and boost revenue collection, according to a press statement.
FBR Launches Advance Stock Register System
The system functions as a sophisticated management information and reporting system, empowering tax officers to securely retrieve detailed stock data to facilitate precise tax assessments and mitigate the risk of tax evasion.
The system centralizes taxpayer profiles, offering thorough views of IT & ST filing histories, summaries, and authorized representative profiles. This integrated access is further strengthened by tax and declaration comparisons, providing comprehensive oversight capabilities.
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