Islamabad, In a significant move to modernize Pakistan's tax administration, the Federal Board of Revenue (FBR) has partnered with Karandaaz Pakistan, a financial institution focused on fostering economic growth and innovation. This collaboration aims to digitize the tax system, enhancing efficiency and transparency in tax collection processes.

According to Zameen.Com, the collaboration was formalized through a memorandum of understanding (MoU) signed in the presence of Finance Minister Muhammad Aurangzeb and representatives from the FBR and Karandaaz. The agreement underscores a shared commitment to leverage technology for streamlining tax administration and improving taxpayer services.

The initiative is set to employ advanced digital tools and international expertise to overhaul the existing tax infrastructure. Finance Minister Aurangzeb emphasized the necessity of adopting a people-centric approach in digitalization efforts, advocating for the engagement of seasoned international consultants to guide the transformation process.

Karandaaz Pakistan's role will involve a comprehensive evaluation of the FBR's current business requirements and technological assets. This assessment will lay the groundwork for developing tailored digital solutions aimed at facilitating tax compliance and ensuring user-friendly interactions for taxpayers.

This strategic partnership between the FBR and Karandaaz Pakistan represents a critical step towards modernizing Pakistan's tax system, with potential benefits including enhanced operational efficiency, increased revenue collection, and improved taxpayer satisfaction.