ISLAMABAD, Jan 30 (DNA): The Federal Cabinet, in a meeting, on Tuesday approved restructuring and digitization of the Federal Board of Revenue (FBR) on the recommendations of the Revenue Division.
The approval was accorded in a meeting chaired by Caretaker Prime Minister Anwaar-ul-Haq Kakar.
The meeting was apprised of the recommendations of an inter-ministerial committee that held its meeting on 23rd January under the caretaker finance minister.
During its previous meeting, effective amendments were made in the summary after a comprehensive debate which was submitted in the cabinet’s meeting today, PM Office Media Wing said in a press release.
Under these reforms, a Federal Tax Policy Board would be constituted in the Revenue Division that would be tasked to formulate tax policy, fixation of revenue targets and work for coordination among the stakeholders.
The federal minister for finance would head the Federal Policy Board.
Under the new scheme, Customs and Inland Revenue departments would be separated and work under specific director generals in the relevant cadres who would also enjoy complete authority over the administrative, financial and operational matters.
Both the officials would ensure digitization of their relevant departments and implementation of globally recognized practices for transparency and addressing complaints.
These departments would have separate oversight boards with the federal secretaries of ministries from finance, revenue, trade, chairman NADRA and relevant experts as its members whereas, minister for finance would head them.
The prime minister directed that clash of interests should be avoided during the appointment of experts from the private sector.
He also asked that under the cabinet committee’s recommendations for reforms, a draft should be presented for necessary legislation ad approval in the upcoming session of the newly elected parliament.
On the occasion, the prime minister and the cabinet members appreciated the untiring efforts of the ministers concerned , chairman FBR and other relevant authorities for the preparation of these reforms.
The meeting also endorsed decisions taken on January 26 by its cabinet committee on legal affairs but deferred amendments recommended by the ministry of water resources with regard to IRSA Act 1992 and directed to resubmit it in the next meeting of cabinet after a thorough debate.