ISLAMABAD: The Federal Cabinet will again take up the issue of restructuring of the Federal Board of Revenue (FBR) on Tuesday (today), it is learnt.

The Inter-Ministerial Committee (IMC), headed by caretaker Finance Minister Dr Shamshad Akhtar has finalised the revised summary to the cabinet to be discussed on January 30.

The recommendations on reforms in the tax machinery have been finalised by the inter-ministerial committee formed to deliberate on the Board’s restructuring.

Finalisation of revised summary to cabinet: Deliberations continue on FBR restructuring

It is learnt that the finance minister has maintained her stance of restructuring of the FBR to broaden the tax base and increase the tax-to-GDP ratio.

The committee under the chair of the caretaker finance minister discussed in detail the proposed restructuring of FBR during the last two meetings including the concerns raised by top management of the FBR and Inland Revenue Service on inclusion of private professionals in the oversight board.

Sources said that the caretaker finance minister has assured to address the concerns of officers of Inland Revenue Service and it is also incorporated in the summary submitted to the federal cabinet. Recently, few officers of IRS have also asked the chief election commissioner to take notice of ongoing exercise of FBR restructuring and overhaul.

The restructuring plan includes the establishment of oversight boards in the name of accountability, adding that senior tax officials opined that the establishment of such boards will open up avenues for the vested interest and even the inclusion of persons with conflict of interest.

Copyright Business Recorder, 2024