Track and Trace System helped FBR minimise tax fraud in cement, sugar, fertiliser, and tobacco

• Authentix, Inc. lead by Executive Vice President Tim Driscoll brought this issue to the attention of the minister of finance.
• The delegation provided the minister with an up-to-date status report on TTS’s implementation in the industries that were targeted.

Cement, sugar, fertiliser, and tobacco are the four most important parts of the economy, and the Federal Board of Revenue (FBR) has found that the Track and Trace System (TTS) has been useful in reducing the amount of tax evasion that occurs in these areas.

During their discussion with the Minister of Finance, Miftah Ismail, a group from Authentix, Inc. lead by Executive Vice President Tim Driscoll brought this issue to the minister’s attention. The delegation provided the minister with an up-to-date status report on TTS’s implementation in the industries that were targeted.

The minister of finance, while expressing satisfaction over the progress that has been made with TTS, highlighted that it is essential to have this system in place in order to manage tax evasion as well as illegal trading in a variety of goods.

He gave instructions to the delegation to make certain that the TTS would be fully implemented at the earliest possible time in order to increase overall income and reduce the amount of untaxed products on the market.

The conference was attended by top officers from the Finance Division, as well as Authentix’s General Manager for Pakistan, Zafar Masood, and Authentix’s Senior Vice President for Strategy and Corporate Development, Sten Bertelsen.

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