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FBR striving to boost revenue generation: Khawaja Tanveer

FBR striving to boost revenue generation: Khawaja Tanveer

ISLAMABAD: FBR Member Internal Audit/Accounting Khawaja Tanveer Ahmed has said that Federal Board of Revenue is trying its best for generating more revenue through widening of the tax base and implementing some revolutionary policies to properly collect the taxes.

Describing Audit Wings responsibilities during an exclusive interview with Customs Today, Khawaja Tanveer Ahmed said that the role of this wing is to give a final shape to the revenue-related reports and to submit them to the Public Accounts Committee (PAC).

He said the wing deals with all matters relating to PAC/DAC (Department Accounts Committee) on Audit Reports/Performance, Special Studies Reports and all matters relating to PAC/DAC on Appropriation Accounts (Grants with AGPR).

Explaining further details, Khawaja Tanveer said the wing also deals with all matters relating to DAC on management/MFDAC (Memorandum for Departmental Accounts Committee) reports and Financial Attest of Financial Statements (Revenue Components) for each financial year. The Audit Wing coordinates with Auditor General of Pakistan and Public Accounts Committee in matters relating to Audit, he added.

The Member explained that when FBR declares the data of revenue collection of a financial year, the Auditor General verifies this data with State Bank of Pakistan and other sources. “If there is a difference between the declared and the original deposited data, the matter is discussed in DAC and referred to Accounting Wing and then we send it to the Public Accounts Committee in the Parliament,” he added.

The Member Internal Audit/Accounting said that every month two meetings are convened to discuss all revenue-related matters. Meetings for considerations and scrutiny are called frequently after the promulgation of the Public Accounts Committee, he said, adding that it is a usual practice of every year. He said that the Auditor General collects the data on daily basis, which is issued by FBR and then the collection is reconfirmed by the State Bank of Pakistan.