PM targets tax evasion, doubles SME financing goal

Summary

• Prime Minister Shehbaz Sharif has warned that businesses collecting taxes from consumers but keeping the money instead of depositing it with the government will not be entitled to any concessions.
• The government is pursuing FBR reforms to strengthen revenue collection and address weaknesses in the tax system.
• The prime minister directed officials to ensure that the reforms produce practical results and help the government achieve its revenue targets.

AI Generated Summary

Prime Minister Shehbaz Sharif has warned that businesses collecting taxes from consumers but keeping the money instead of depositing it with the government will not be entitled to any concessions. He stressed the need for stronger tax enforcement and comprehensive measures to ensure that the country collects its full tax potential.

The prime minister made these remarks while chairing a review meeting on reforms at the Federal Board of Revenue (FBR) in Islamabad on Tuesday. He directed the relevant authorities to take all necessary steps to improve tax collection, strengthen compliance and eliminate practices that deprive the national exchequer of its rightful revenue.