Islamabad: In a move to curb tax evasion, hoarding and price manipulation, the Federal Board of Revenue (FBR) has directed the Inland Revenue authorities at all sugar mills in Punjab and Sindh ahead of the sugar crushing season starting from November 21. It has been decided to appoint The action comes after reports of misuse of the track and trace system, which is now used to collect real-time data on sugar production.
Prime Minister Shahbaz Sharif has issued instructions for strict monitoring of the sugar sector and has ordered to implement CCTV surveillance on the mills to prevent illegal activities. The government has also jointly roped in FBR, Federal Investigation Agency (FIA) and Intelligence Bureau (IB) officials to target sugar mills and dealers involved in tax evasion, undocumented sales and unfair price hikes. ready for
A notification has been issued under Section 40B of the Sales Tax Act, 1990 to ensure effective monitoring of production, sale and stock levels of sugar. FBR officials will be deployed in sugar mills to track production, sales and stock positions, ensuring that All sales tax liabilities are met.
Earlier, the government relied on data provided by the industry for sugar production data, but with the new track and trace system, the FBR now has access to real-time production data, making it more accurate and Effective monitoring may be possible. The cameras installed in the mills will also monitor the production process and stocking, further ensure compliance with tax regulations and prevent price manipulation during the upcoming season.
