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FBR Chairman Tariq Pasha to attend TRC meeting tomorrow

FBR Chairman Tariq Pasha to attend TRC meeting tomorrow

ISLAMABAD: A high-powered implementation committee meeting of the Tax Reform Commission will be held at Federal Board Revenue on September 13, 2017 (tomorrow).

According to the details, Advisor to Prime Minister for Revenue Haroon Akhter, FBR Chairman Tariq Mehmood Pasha, Chairman Tax Reform Commission Masuod Naqvi, Member Operation Inland Revenue Khawaja Tanveer Ahmad, Member Policy Inland Revenue Dr. Muhammad Iqbal, Member Customs Muhammad Zahid Khokhar, Member FATE Nausheen Amjad and other members and officials will attend the meeting.

Finance Minister Ishaq Dar will preside over the meeting. The committee will review the implementation process on various proposals firmed up by TRC for enhancing the tax revenue and broadening the tax base.

It is pertinent to mention here that tax reforms was constituted on the pressure of international financial institutions in September 2014, and were aimed to boarding the tax base, rationalizing the tax rates simplify the procedures and strengthening tax administration, increasing public revenue, improving tax structure, creation of border force to deal with illegal movement of persons and goods across international borders and promoting tax culture in Pakistan.

According to sources International Monetary Fund (IMF) is not satisfied with the implementation process on tax reforms and he urged to government that Pakistan needs to bolster revenues through broadening the tax base and improve compliance in order to generate resources for reducing public debt. According to world bank studies out of 186 countries surveyed, Pakistan ranked 172 in difficulty of tax compliance and not only FBR has a very low tax base but those who are paying taxes, the tax compliance is complex, time consuming and full of ethical breaches. High powered committee will reviewed the issues which are causing hurdles in the way to speed up the implementation process.