Islamabad: The Caretaker Pakistan Government approved a comprehensive overhaul and digitization drive for the Federal Board of Revenue (FBR).
During the cabinet meeting, the restructuring and digitization proposal for FBR was approved. The proposal was suggested by the Revenue Division, under the leadership of Prime Minister Anwaar-ul-Haq Kakar.
A Federal Tax Policy Board (FTPB) will be established within the Revenue Division as part of the ongoing reforms. The board will have the full authority to craft tax policies, set revenue targets, and ensure stakeholder collaboration. The FTPB will operate under the strong leadership of the federal finance minister to ensure the efficient implementation of the policies.
Furthermore, the restructuring will entail segregating Customs and Inland Revenue departments, each helmed by separate Director Generals (DGs). These officials will wield full authority over administrative, financial, and operational aspects within their respective domains, committed to implementing international best practices, including digitization, grievance redressal, and transparency.
Oversight boards for Customs and Inland Revenue will have federal secretaries, the NADRA chairman, and relevant experts chaired by the finance minister. Private sector experts must be free from conflicts of interest. Legislative drafts for reforms will be presented in the upcoming Parliament session. For the latest Real Estate News and Blogs, visit Realtorspk blogs.