ISLAMABAD: The Federal Board of Revenue (FBR), under the new reform programme, will put in place a consistent framework for tax policy and sector-oriented risk-based audit, implement IT strategy, harmonise federal and provincial tax systems, broaden the tax base to improve collection through e-payments and e-invoicing, and create intelligence units under reforms.
Sources said that here on Tuesday that the issue of tax reforms in the FBR was discussed during the second Steering Committee (SC) meeting of the Trust Fund for Accelerating Growth and Reforms (TAGR) which was held at Economic Affairs Division (EAD). The meeting was jointly chaired by Secretary EAD and World Bank officials.
On the issue of tax policy and tax administration reform, sources said that the presentation of the WB focussed on the objectives of the pillar and progress in terms of increasing fiscal space, progress has been made including increase in tax receipts, registered tax payers and collection of arrears.
Regarding tax policy, units have been created, capacities strengthened, and recommendations from analytical work adopted.
