ISLAMABAD: In line with the Customs Common Pool Fund, the Federal Board of Revenue (FBR) has established the Inland Revenue Service (IRS) Common Pool Fund for the IR officials and officers.

In this connection, the FBR has issued IRS Common Pool Fund Rules, 2023 to be applicable from March 1, 2023.

Under the IRS Common Pool Fund Rules, the rules shall apply to all cadre and non-cadre officers and officials of the Inland Revenue Department.

In order to regulate the collections and disbursements of the IRS Common Pool Fund, an IRS Common Pool Fund Board (IRS-CPFB) shall be constituted comprising Member Inland Revenue (Operations) as Chairman; Member Accounting and Audit, Member; Chief IR Revenue Operations, Member and Chief Management HRM-IR as Member.

The IRS-CPFB will act as the overall governing body of the IRS Common Pool Fund and shall perform the functions of overall supervision of the collections and disbursements of the IRS' Common Pool Fund; approve and issue policies.

Copyright Business Recorder, 2023