The federal cabinet has approved restructuring and digitization of the Federal Board of Revenue.
The approval was granted on the recommendation of Revenue Division during today’s 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.
The Board 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.
