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Finance Minister meets Tax Reforms Commission’s Implementation Committee

Finance Minister meets Tax Reforms Commission’s Implementation Committee

ISLAMABAD: Finance Minister, Senator Mohammad Ishaq Dar had a meeting with members of Tax Reforms Commission’s (TRC) Implementation Committee, during which the way forward for further up-gradation of the tax system was discussed.

Chairman TRC Implementation Committee, Special Assistant to the Prime Minister on Revenue, Haroon Akhtar Khan, members of the Committee and senior officers of Federal Board of Revenue (FBR) were present on the occasion.  The Minister while appreciating the work of TRC in the form of a very comprehensive report said that it was the resolve of the government to implement the proposed reforms which led to establishment of Tax Reforms Implementation Committee (TRIC).

This Committee, he said has an important task at hand and its contribution for improvement of the tax system would be highly valued.

He said prioritizing recommendations and steps having major impact in terms of revenue collection, facilitation of tax payers and effective management of the tax system, would be an ideal thing to do for effective implementation.

The Committee should also categorize different proposals having immediate, short and long term implications.

The Minister said the FBR has all along extended valuable support to the TRC as well as the Implementation Committee, and the joint effort, would yield positive results.  Chairman and Members of TRIC thanked the Finance Minister for his support and encouragement in undertaking its work in an effective manner.  Chairman FBR, speaking on the occasion, informed that the number of tax returns filed for tax year 2017 as of October 18, 2017 has reached 406,310 as compared to 192,059 filed for tax year 2016, as of October 18, 2016.