Prime Minister Imran Khan has directed the Federal Board of Revenue (FBR) to brief him on tax reforms and implementation of the new reform initiatives and documentation measures during the first week of September 2019.
Sources to Business Recorder here on Thursday that the Prime Minister Office has written a letter to the Chairman FBR Shabbar Zaidi to make presentation to the Prime Minister on tentative date of September 5. However, the PM Office would communicate any change in the date to the FBR. According to sources, the meetings of the Tax Policy Board (TPB) on the separation of tax policy from the tax administration have been repeatedly postponed and FBR is still fully engaged in drafting tax policy. It is expected that the FBR will brief on the latest reform initiatives specifically documentation measures including condition of provision of computerised national identity card (CNIC) numbers of un-registered buyers. The FBR will not take any adverse action against the traders on the condition of provision of CNIC numbers till September 30.
The condition of the CNIC has not been abolished. The FBR will not take any negative action against the traders up to September 30, 2019. The condition of the CNIC as per Finance Act 2019 would remain intact but no adverse action would be taken against the traders till September 30.
Prime Minister Imran Khan would be briefed on the recovery drive launched against big tax evaders and high net worth individuals.
The FBR chairman will also brief the Prime Minister about the progress on the steps taken to detect offshore assets and properties of Pakistani citizens and the recovery of taxable amount under the country's laws. The federal government has assigned all the deputy commissioners and heads of development authorities across the country to identity 'benami properties' and submit report to the Prime Minister Office and chairman FBR by September 30, 2019.
The PM has urged that there was a pressing need for tracking benami properties across the country and wanted the provincial governments to adopt a proactive role in initiating the tracking of benami properties in their province through respective institutions.
According to the FBR, the Customs Operations Performance included introduction of Devices Identification, Registration and Blocking System (DIRBS), establishment of National Targeting Centre (NTC), Border Management Initiatives for Effective anti-smuggling and Appraisement, creation of Directorate of Cross Border Currency Movement (CBCM), launch of Authorised Economic Operator Programme, exemption of Customs Duty on import of Plant and machinery by Greenfield projects/industry through supplementary budget, exemption/reduction of Custom Duty (CD) on industrial inputs, export facilitation through reduction in retention period, extension of exemption for FATA region, automation & simplification, increasing coverage of RD regime; and increase in pitch of Additional Customs Duty. Other initiatives included installation of scanners at various customs stations in Pakistan to facilitate and secure imports/exports, optimum compliance to the provisions of Trade Facilitation Agreement (TFA) to attract Foreign Direct Investment (FDI); generate economic activity; create employment opportunities and promote exports and successful deployment of NCEN in Data Centre of FBR in collaboration with DFID and WCO free of cost. The recent initiatives of Strategic Planning Reforms included establishment of Tax Intelligence Unit (TIU) and Market Monitoring & Intervention (MMI) under the Trust Fund for Accelerated Growth and Reforms (TAGR) project, launch of Domestic Resource Mobilisation (DRM) Project, creation of Tax Policy Unit within Ministry of Finance, plaza mapping at Lahore, Karachi and Islamabad, introduction of Currency Declaration System and Advanced Passenger Information System at major airports of the country, forensic audit in sugar, tobacco and steel industries to address leakages and tax evasion, and implementation of Tobacco Track & Trace System.
The information technology initiatives during the last one year included Virtual One Stop Shop (VOSS), auto issuance of NTN, and introduction of Alternate Delivery Channel (ADC) for payment of tax through internet banking and ATM.
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