ISLAMABAD: The Prevention Committee on Federal Board of Revenue (FBR), constituted by National Accountability Bureau (NAB) recommended that more dedicated efforts should be made to document the economy here on Tuesday.
The Committee also suggested that Automated Income Tax System in FBR Should be fully functional so that doors of corruption and misuse of power by Tax Collectors could be closed to increase the volume of revenue in the economy.
The Prevention Committee on FBR was constituted on the directions of Chairman NAB, Qamar Zaman Chaudhry and in its first it recommended that tax net may be increased so that huge money in shape of taxes be collected accordingly.
The Committee was formed under the Chairmanship of Saeed Ahmed Sargana, Deputy Chairman NAB to identify loopholes in Taxation Rules, Regulations & Procedures of FBR and to recommend measures to plug heavy leakages caused through corrupt practices.
The Committee shared their point of views on basis of their expertise and to reform and improve taxation system.
The Prevention Committee comprises serving and retired senior Taxation Officers, private sector, Transparency International, Representatives of State Bank of Pakistan and other stakeholders.
The second session of the Prevention Committee will be held on March 31 after that it will submit its recommendations accordingly to Chairman NAB.
The Committee is authorized to seek full and complete assistance for all or any documents and information relevant to the subject matter from any department, Federal Government, Provincial Government, Financial Institution, Person or Authority.
On the basis of recommendations, Chairman NAB will form Implementation Committee under NAO 33-C (e).
