Empowering FBR to combat tax evasion and expand the tax net, the Finance Act 2020 introduced Section 175A in the Income Tax Ordinance, 2001. Taking a groundbreaking step, the Federal Board of Revenue (FBR) issued a notification on December 5, 2023, outlining draft rules for real-time information access and database integration through its cutting-edge platform, RADAR. Here's a concise overview of the key highlights:
Scope: These rules govern the implementation of Section 175A, facilitating real-time information and database access for the FBR from "integrated organizations."
Integration Deadline: All designated organizations must integrate with RADAR by January 15, 2024, or as notified by the FBR.
