ISLAMABAD: Prime Minister Shehbaz Sharif constituted committee to identify flaws and failures of Track and Trace System (TTS), launched to curb tax evasion and improve revenue collection.

Committee headed by former State Bank Governor Tariq Bajwa has been directed to conduct thorough investigation and submit its report to PM. Track and Trace System is software-based solution for tracking vehicles, loading units, shipments and products throughout entire supply chain, from supplier to consumer.

TTS was implemented by consortium through bidding by Federal Board of Revenue. It was initially implemented in 2021 in cigarette industry, followed by sugar, cement and fertiliser sectors. Development comes after system failed to meet its expected targets.

Earlier, it was reported that Tajir Dost tax scheme launched by government to bring retailers into tax net also failed in attracting business community. Tajir Dost app was launched to tax retailers in Pakistan. Through app, government was hoping to bring 3.5 million retailers into tax net, sources said.

Scheme was initially launched for traders of Karachi, Lahore, Peshawar, Rawalpindi, Quetta and Islamabad. Under scheme retailers and small-scale traders will be charged Rs 1,200 monthly income tax, starting from July 15, 2024. Traders will get 25 percent concession on payment of yearly Income Tax.

Published in The Daily National Courier, May, 02 2024

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