Govt concludes overhaul strategy for FBR

WEB DESK: The government has reportedly finalised a comprehensive restructuring plan for the Federal Board of Revenue (FBR).

Sources indicate that the Apex Committee of the Special Investment Facilitation Council (SIFC) has granted approval for the ambitious reforms and restructuring initiative put forth by the FBR.

The next crucial step involves presenting a summary of the restructuring plan to the federal cabinet during its upcoming meeting.

This summary is contingent upon receiving the minutes of the last SIFC committee meeting, ensuring a meticulous and informed decision-making process.

The proposed restructuring plan is poised to usher in a new era of efficiency and accountability in Pakistan’s tax administration.

It is designed not only to fortify the internal governance of the FBR but also to implement a robust action plan for the comprehensive restructuring of the country’s tax system.

As part of the reform strategy, the caretaker government is considering the establishment of a special customs board to oversee the affairs of Pakistan Customs.

This move aims to separate customs from the revenue collection mechanism, facilitating a more focused approach to combating smuggling and related illicit activities. Importantly, the responsibility for revenue collection will continue to be the mandate of the FBR.

Additionally, there are discussions about setting up a distinct Inland Revenue Board under the supervision of the Revenue Division.

The proposed board is expected to enhance the oversight and management of inland revenue matters.

Under the broader tax reform programme, five federal secretaries, including those from Finance, Industries and Production, National Food Security, Commerce, and Interior, are slated to become ex-officio members of the Customs Board.

This collaborative approach seeks to ensure a well-rounded and informed decision-making process.

The anticipated restructuring measures within the FBR aim to eliminate any perceived conflicts of interest in tax collection and elevate the overall performance of the tax machinery.

This move aims to foster transparency, efficiency, and effectiveness within the country’s revenue collection system.

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