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Dar lauds Bajwa’s efforts in launching new tax incentives scheme

Dar lauds Bajwa’s efforts in launching new tax incentives scheme

ISLAMABAD: Federal Finance Minister Ishaq Dar has lauded the efforts of Federal Board of Revenue Chairman Tariq Bajwa in formulating the tax incentive scheme and gave FBR a detailed plan for effective implementation of the scheme.

Appreciating FBR, the Finance Minister said, “Positive public response is indicating the appropriateness and effectiveness of the incentives announced by Prime Minster Nawaz Sharif.”

Sources said that Senator Ishaq Dar has urged the FBR chairman to impose a monitoring mechanism to properly implement the scheme for facilitating the public and this should be done on priority basis.

FBR has set up a monitoring office in its Headquarters to operate the scheme amicably at the national level. However, the minister gave FBR some suggestions/plan to make the scheme better. The plan include establishment of tax incentive scheme counters in every tax office, hiring of focal persons at commissioner-level office to maintain FBR website and publications, creation of a website to facilitate new taxpayers, addition of a complaint-registration-and-redressal system on the FBR website, advertisement and publicity in both the print and electronic medias, arrangements of seminars and meetings with associations/chambers to explain the features of the package and establishment of a ‘Central Monitoring Office’ in FBR HQ (which has already been set up).

Ishaq Dar directed FBR to keep Finance Ministry informed about the tax incentive scheme through weekly reports.

FBR has formed a committee, headed by Member Inland Revenue Policy and comprising Member IR Operations, Chief Income Tax Policy, Secretary TPA-I and a tax official, to ensure implementation of the scheme in an effective manner.