ISLAMABAD: The caretaker government has constituted a high-level committee to submit specific recommendations on the restructuring of the Federal Board of Revenue (FBR).
It is learnt that the four-member committee included the FBR chairman, secretary Ministry of Finance, secretary Ministry of Commerce, and secretary Cabinet Division. The high-level committee would submit its recommendations to the federal cabinet in the light of approval given by the Special Investment Facilitation Council (SIFC).
In line with the approval of the SIFC, the committee would work on specific recommendations for the FBR’s restructuring.
MoF spells out FBR reforms agenda
The creation of specialised administrative structures will be accompanied by better delegation and accountability of administration.
An institutional mechanism is being considered to establish a Tax Policy group with the right expertise and analytical capability to facilitate rationalisation of tax regime emphasizing fairness and equity in tax regime.
A summary is likely to be moved in the next meeting of the federal cabinet for the approval of the FBR’s restructuring plan. The summary will be moved after the finalisation of the recommendations of the four-member committee.
It has been proposed to constitute a special Customs Board to manage the affairs of Pakistan Customs under the ongoing reform plan. The Customs will be separated from the revenue collection mechanism for tracking the smuggling and other elements, while the revenue collection will remain a mandate of the FBR.
A separate Inland Revenue Board may also be established under the supervision of the Revenue Division.
Copyright Business Recorder, 2024
Comments
Comments are closed.