ISLAMABAD: The Senate Standing Committee on Finance and Revenue on Wednesday expressed reservations on interim government’s plans of restructuring of Federal Board of Revenue (FBR), ARY News reported.
A meeting of the Senate Standing Committee – held under the chairmanship of Senator Saleem Mandviwalla – was briefed on the news circulating in the media concerning the restructuring of Federal Board of Revenue (FBR).
Chairman FBR Zubair Tiwana stated that the government was undertaking the restructuring of revenue department, and its finalisation requires amendments to the FBR Act.
Under the proposed plan, Zubair Tiwana said, the boards of Inland Revenue and Customs were being divided. Moreover, he said, an oversight board will be constituted to oversee FBR.
It has been proposed to include people from the private sector in the board, the Chairman FBR claimed, adding that the revenue board would be divided into six to seven entities while Director-General will be given additional authorities.
He attributed the restructuring of FBR to increase in revenue generation.
Meanwhile, the Committee objected whether the interim government is mandated to undertake such restructuring.
Speaking of the occasion, Senator Saadia Abbasi said that the interim government was not legally bound to legislate, adding that legislation was solely the mandate of Parliament.
She demanded the committee to sought details of the interim government’s plans from Ministry of Law and Justice.
Following the objections – which were also raised by Farooq H. Naek, the Senate committee has summoned Minister and Secretary of Law and Justice.
A day earlier, it was reported that the Special Investment Facilitation Council (SIFC) had approved the Finance Ministry summary regarding the restructuring of Federal Board of Revenue (FBR).
Sources said that after the restructuring of FBR, the tax policy will be included in the jurisdiction of the finance ministry. The eight-member board comprising secretaries from the finance ministry, commerce ministry and foreign ministry will overview the affairs of FBR.
from ARY NEWS https://ift.tt/mSQwLZb
0 Comments