The FBR records a 33% increase in sales tax in the sugar sector through the Track & Trace system

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 The FBR records a 33% increase in sales tax in the sugar sector through the Track & Trace system

The Federal Board of Revenue (FBR) collects sales tax of Rs. 26.5 billion in the first four months (December 2021 to March 2022) of the current period of crushing the sugar sector, an increase of 33 percent.

The milestone was reached thanks to the successful implementation of the Tracking and Tracing (TTS) system in the sugar sector currently crushing. The new digital sugar production monitoring system has been implemented in more than 79 sugar factories with 151 production lines throughout the country.

It is worth noting that the Prime Minister himself launched the TTS for the sugar sector on 23 November 2021. After all, no bags of sugar can be exported from the factory premises and sold on the market without tax stamps. Thanks to this transparent electronic production supervision, all sugar factories are obliged to report their actual break and production in the current break season. As a result of this digital intervention, the sugar factories produced record high sugar, ie. 7.51 million tons (as of March 24, 2022), compared to 5.63 million produced in the previous crushing period, represents an increase of 34 percent.

The FBR collects sales tax of Rs. 26.5 billion in the first four months (December 2021 to March 2022) in the current period of crushing against Rs. In the corresponding period of the last crushing period, 19.9 billion was collected, which means an increase of Rs. 6.59 billion, an increase of 33 percent.

In addition to the above, FBR Inland Revenue Enforcement Network (IREN) units conducted more than 60 raids in various markets across the country in anti-detection operations to ensure the successful implementation of the tracking and tracing system. During the operations, FBR police officers secured unsealed bags in accordance with the law. Federal Minister of Finance and Revenue Shaukat Tarin praised the FBR for the successful implementation of a monitoring and surveillance system that has made Pakistan a country full of sugar again.

Chairman of the Federal Board of Revenue (FBR) Muhammad Ashfaq Ahmed also thanked him for the success of the tracking and tracing system. He reiterated that in the coming months, the implementation of the Track & Trace System will be guaranteed for the entire tobacco sector as well as for other major sectors such as manure, oil and cement.

This will lead to digital surveillance of large-scale production and manufacturing in these key sectors. In addition, preventing revenue leakage will help reduce human intervention and pave the way for a transparent and reliable tax compliance system across the country, he concluded.

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