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Tax evasion: NAB body for slashing FBR’s powers

Tax evasion: NAB body for slashing FBR’s powers

ISLAMABAD: National Accountability Bureau’s (NAB) Prevention Committee on Federal Board of Revenue (FBR) to identify the loopholes in the Taxation Rules, Regulations & Procedures and Tax Evasion has recommended to end the FBR’s regulatory authority of curbing tax evasion.

The NAB committee has asked the government to establish Pakistan Revenue Regularity Authority (PRRA) for this purpose. This authority must be under the supervision of the prime minister, it said, adding that the PRRA would direct report to the PM.

The Pakistan Revenue Regularity Authority must also be given authority to make laws and policies for curbing tax evasion in the country. The authority should be consisted of 10 members including five professional members, 3 economists, 1 law expert and one charter accountant.

The NAB body also recommended that the FBR’s Commissioners Appeal and Collectors Appeal must work under the Ministry of Law.