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FBR restructuring gets federal cabinet’s nod

By News Desk

January 30, 2024 04:09 PM


FBR restructuring gets federal cabinet’s nod

Representational image

The federal cabinet on Tuesday approved the restructuring and digitization of the Federal Board of Revenue (FBR), reported 24NewsHD TV channel.

The approval was granted on the recommendation of Revenue Division during the meeting of the Federal Cabinet that met in Islamabad with Caretaker Prime Minister Anwaar-ul-Haq Kakar in the chair.

Under the approved reforms, a Federal Tax Policy Board will be constituted in the Revenue Division which will ensure formulation of national tax policy, fixation of revenue targets and liaison with the stakeholders. The Federal Finance Minister will be the chairman of the Federal Tax Policy Board while Federal Secretaries for Finance, Revenue and Trade, Chairman NADRA and experts of the relevant departments will be members of the Board.

Customs and Inland Revenue departments will be separated and would be led by Directors General of relevant cadres. Both the DGs will be fully authorized for institutional, economic and operational matters of their respective department.

They will ensure the implementation of internationally adopted measures for digitization, complaint resolutions and transparency. There will be separate oversight boards for Inland Revenue and Customs.

Speaking on the occasion, the Prime Minister instructed that there should be no clash of interests, while making appointments of experts. He also directed to submit the draft summary of reforms to the upcoming elected parliament for necessary legislation.

 

Reporter Awais Kiyani

 

 


News Desk


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