AGL 38.50 Decreased By ▼ -1.08 (-2.73%)
AIRLINK 128.79 Decreased By ▼ -2.43 (-1.85%)
BOP 7.00 Increased By ▲ 0.19 (2.79%)
CNERGY 4.56 Decreased By ▼ -0.15 (-3.18%)
DCL 8.20 Decreased By ▼ -0.24 (-2.84%)
DFML 39.39 Decreased By ▼ -2.08 (-5.02%)
DGKC 78.99 Decreased By ▼ -3.10 (-3.78%)
FCCL 31.90 Decreased By ▼ -1.20 (-3.63%)
FFBL 71.00 Decreased By ▼ -1.87 (-2.57%)
FFL 12.21 Decreased By ▼ -0.05 (-0.41%)
HUBC 108.60 Decreased By ▼ -2.14 (-1.93%)
HUMNL 13.70 Decreased By ▼ -0.81 (-5.58%)
KEL 4.92 Decreased By ▼ -0.27 (-5.2%)
KOSM 7.49 Decreased By ▼ -0.12 (-1.58%)
MLCF 37.59 Decreased By ▼ -1.31 (-3.37%)
NBP 68.34 Increased By ▲ 4.33 (6.76%)
OGDC 187.00 Decreased By ▼ -5.82 (-3.02%)
PAEL 24.62 Decreased By ▼ -1.06 (-4.13%)
PIBTL 7.25 Decreased By ▼ -0.09 (-1.23%)
PPL 147.50 Decreased By ▼ -6.57 (-4.26%)
PRL 24.80 Decreased By ▼ -1.03 (-3.99%)
PTC 16.95 Decreased By ▼ -0.86 (-4.83%)
SEARL 79.60 Decreased By ▼ -2.70 (-3.28%)
TELE 7.45 Decreased By ▼ -0.31 (-3.99%)
TOMCL 32.65 Decreased By ▼ -0.81 (-2.42%)
TPLP 8.23 Decreased By ▼ -0.26 (-3.06%)
TREET 16.76 Increased By ▲ 0.14 (0.84%)
TRG 56.35 Decreased By ▼ -1.05 (-1.83%)
UNITY 27.95 Increased By ▲ 0.44 (1.6%)
WTL 1.32 Decreased By ▼ -0.05 (-3.65%)
BR100 10,365 Decreased By -139.9 (-1.33%)
BR30 30,563 Decreased By -663.1 (-2.12%)
KSE100 96,929 Decreased By -1151 (-1.17%)
KSE30 30,180 Decreased By -379.1 (-1.24%)

Sindh Revenue Board has decided to give lucrative incentives to informants for divulging details of tax-evaders to enhance tax collection in the province, Business Recorder learnt on Sunday. SRB's legal and co-ordination wings made some important amendments to the Sindh Revenue Board Act of 2010, enabling it to meet its targets.
The amended bill would be tabled in Sindh Assembly's current session for approval. Earlier, the SRB authorities had moved a summary in this regard to Sindh Chief Minister Syed Qaim Ali Shah calling for rewarding informants Rs10,000 for sharing information about any tax evading company or individual. The individual or the company would be registered in SRB's database.
In addition, it is learnt, if the information led evaders of taxes on services to pay their dues, the informant would be entitled to a reward ranging between 1 and 2.5 percent of the total money deposited in the provincial exchequer.
The amended bill, a copy of which was obtained by Business Recorder, stated that (a) "(ja) SRB with approval of government may frame rules providing incentives and awards for employees who render meritorious services and/or detect tax fraud or short payment of taxes or persons avoiding registration and also for the informers providing specific and definite information with evidence leading to detection and payment of tax, and may prescribe procedure for sanction of suitable reward and incentives."
The bill also proposed the addition of two more members, including a senior representative of Karachi Chamber of Commerce and Industry (KCCI) and the secretary law department in SRB's Advisory Council.
Currently, the Advisory Council comprises 10 members, including the Chief Minister Sindh, Minister for Finance, Minister or Adviser to the chief minister for Planning and Development, Minister or Adviser to chief minister for the Board of Investment. Members also included the Chief Secretary Sindh, Chairman SRB, Secretary Finance and any other member co-opted by the Board and the government may also induct two private sector members with specialised qualification and technical expertise about taxation matters, sources said.
According to amendment in Section 3, the bill suggested that the government may designate one of the members as senior member, who would in addition to his own duties; look after the work of the Chairman SRB in chairman's absence.
Originally, it stated: "The government may designate any members who shall act as an acting Chairman in the absence of chairman, sources informed.
Bill further stated that in Section 3- (b) "(10) the Chairman and the members may be appointed/nominated as per conditions and limitations as the provincial government may determine, provided that the provisions of this sub-section shall not apply to a person who is in the regular service of the province of Sindh and otherwise qualifies to be the Chairman or the member of Board.
Bill stated that in Section 4- "(r ) to assist other tax organisations in the province of Sindh in improving their efficiency, and (s) co-ordinate with the federal finance, the other tax regimes, the FBR in the matter of collection and distribution of taxes matters, data sharing and harmonisation of procedures.

Copyright Business Recorder, 2012

Comments

Comments are closed.