The World Bank and the Federal Board of Revenue (FBR) will discuss implementation of electronic monitoring system of production for targeted sectors such as tobacco industry, sector-oriented risk-based forensic audits, capacity building on transfer pricing/exchange of information, information and communication technology and international taxation. Sources told Business Recorder here on Tuesday that the WB mission on tax component of the Trust Fund for Accelerated Growth and Revenue (TAGR) is planning a number of visits to the FBR during January 15 to February 10, 2017.
In the context of implementing the work programme of the tax component of the TAGR, the WB technical assistance missions will be led by Raul Felix Junquera Varela (Task Team Leader, Lead Public Sector Specialist, WBG), and Muhammad Waheed (Co-TTL, Senior Economist, WBG).
The mission will focus on different work streams including tax audit. The work programme contemplates implementing a training programme on tax audit skills and sector-oriented risk-based forensic audits. It also includes mentoring staff of FBR on conducting forensic audit.
The team will continue providing technical assistance on these areas. The work programme also includes developing and automating a risk assessment framework. Within the area of information and communication technology, the work programme will focus on monitoring the implementation of the IT strategy and corresponding action plan.
The team will also monitor the implementation of the recommendations contained in the functional review of IRIS and help implement a management information system for the FBR.
International Tax: This programme focuses on building capacity on transfer pricing and exchange information. Sources added that the tax programme also includes activities related to taxpayer registry and revenue management, implementation of recommendations included in the BPR report, support to the establishment of tax policy analysis unit, and technical support to the implementation of a track and track system ie monitoring of production for targeted sectors including tobacco industry.