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FBR to develop mobile app to file online return

01:04 PM | 23 Dec, 2018
FBR to develop mobile app to file online return
LAHORE - Pursuing an innovative strategy for increasing tax base, Federal Board of Revenue (FBR) is considering the development of a mobile app to file online return with greater convenience.

The Board, besides taking numerous steps to achieve the objective, would also ensure integration of databases like National Database and Registration Authority (NADRA), Provincial Revenue Authorities, Excise and Taxation Departments, Utility Companies and Land Registering Authorities with that of FBR.

The official sources on Sunday said this would be done in a way that a 360-degree view of an economic profile of a taxpayer/non-taxpayer is developed.

Listing other measures adopted under innovative strategy, the sources said the FBR would focus on Mapping Big Businesses and Services (MBBS).

The focus would be on four big and flourishing businesses including private hospitals, diagnostics, labs, pharmacies eateries & food outlets, bakers and wedding halls.

In the entertainment sector, the domains would be event management, professionals linked with showbiz, sports, drama, film, music, and theatre, amusement parks & facilities, private educational institutions, especially joint ventures with international universities.

The sources said real estate sector would also be focused as it has witnessed countless transactions each year. The FBR intends to gather investors data, identify unregistered persons and ensure that due tax is paid by them.

Pakistan has also signed Multilateral Convention on Mutual Administrative Assistance in tax matters (the Multilateral Convention) along with 126 other countries enabling Pakistan to obtain financial data of Pakistani national in three ways including Exchange of Information on Request, Spontaneous Exchange of Information and Automatic Exchange of Information.

Moreover, Pakistan has signed 65 Avoidance of Double Taxation Agreements with other countries and under these bilateral arrangements, information may be exchanged with treaty partners on a bilateral basis.

Pakistan has also signed a Multilateral Competent Authority Agreement (MCAA). FBR has successfully exchanged information with 39 jurisdictions in September 2018. The number of exchange partners is likely to increase in 2019 and onwards.

Any information exchanged with any partner jurisdiction under any of the above frameworks can be used for purposes of broadening of the tax base.

The author is working as Editor Digital Media for Daily Pakistan and can be reached @ItsSarfrazAli.

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PKR rate against US Dollar, Euro, Pound, Riyal - Check 16 April forex rates

Pakistani currency gains momentum against all currencies on April 16, 2024 Tuesday. US dollar was being quoted at 277.9 for buying and 280.85 for selling.

Euro was quoted at 295 for buying and 298 for selling while British Pound stands at 345 for buying, and 349 for selling.

UAE Dirham AED was at 75.4 and Saudi Riyal's new rates was at 73.30. 

Today’s currency exchange rates in Pakistan - 15 April 2024

Currency Symbol Buying Selling
US Dollar USD 277.9 280.85
Euro EUR 295 298
UK Pound Sterling GBP 345 349
U.A.E Dirham AED 75.45 76.2
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 182.7 184.5
Bahrain Dinar BHD 739.38 747.38
Canadian Dollar CAD 204 206.2
China Yuan CNY 38.45 38.85
Danish Krone DKK 40.45 40.85
Hong Kong Dollar HKD 35.57 35.92
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86 1.94
Kuwaiti Dinar KWD 903.91 912.91
Malaysian Ringgit MYR 58.92 59.52
New Zealand Dollar NZD 167.63 169.63
Norwegians Krone NOK 25.38 25.68
Omani Riyal OMR 722.1 730.1
Qatari Riyal QAR 76.35 77.05
Singapore Dollar SGD 206 208
Swedish Korona SEK 25.72 26.02
Swiss Franc CHF 307.11 309.61
Thai Bhat THB 7.61 7.76

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