According to a recent report, the Federal Board of Revenue (FBR) has selected seven vendors, under Video Analytics Rules 2020, for the installment of video analytics equipment on the premises of revenue-generation units of industry sectors including the likes of sugar, cement, beverages, and tobacco.
This measure is aimed at incorporating technology to accurately measure the real output of these important sectors and preventing tax evasion. Video equipment will be installed to ensure electronic monitoring to curb tax evasion.
Another innovative technological solution, Track and Trace System, has already been in the works by FBR for over a decade. This system puts electronic stamps on production output, which can then be tracked in any part of the country with the help of a barcode.
However, this system has been at the receiving end of much criticism from the industry players and authorities. The last time FBR came close to its installation, the Islamabad High Court (IHC) struck down the bidding process of the system and directed the FBR to conduct fresh bidding.
“Now the FBR has hired an international consultancy firm M/S Ideco Biometric Solution belonging from South Africa that is going to supervise the whole procurement process so that a fool-proof process could be followed keeping in view best international practices,” an FBR official shared on Wednesday.
The FBR and Pakistan Sugar Mills Association had already signed a Memorandum of Understanding (MoU), and the sugar mills would be installing a system from their liked ones out of selected seven vendors”.
FBR will now sign agreements with other sectors in concern as well, in a phase by phase process.
This video analytics technology will allow real-time video analytics data monitoring of production from the manufacturing units. This would enable FBR to use the collected data for tax calculation purposes.
Tech giants and other stakeholders have outright rejected new social media rules in Pakistan