ISLAMABAD: The Tax Reforms Commission has constituted three committees for implementation of its recommendations to facilitate taxpayers.
These committees would work for simplification of laws, monitoring the electronic and tracking system and study the informal size of economy and make a report how can reduce the size of informal economy.
The committees were constituted at a high-level meeting led by Federal Board of Revenue Chairman Dr Irshad Ahmad. Former TRC chairman Masoud Naqvi, Member IR Policy Rehmatullah Khan Wazir, Member Customs Nasir Masroor Ahmed, Member Administration Muhammad Majid Qureshi, Member IT Dr Muhammad Iqbal, Member HRM Rozi Khan Burki, Member FATE Nausheen Javed Amjad, Member Taxpayer Audit Raana Seerat, Member Legal Hafiz Muhammad Ali Indhar, Chief Inland Revenue Operation Yusaf Haider Sheikhand other senior officials of the board were also present in the meeting.
The subcommittees were tasked to come up with workable procedures within a period of 15 days.
It has been decided that an advance ruling mechanism will be advised for all taxes. The framing of rules regarding whistleblowers also came under discussion and it has been decided that the Member Inland Revenue Policy will frame rules regarding the provision of whistleblowing.
A subcommittee has also been formed for simplification of laws. The committee will be consisted on Member (SPR & S), Member Inland Revenue Policy and Member Customs to make a recommendations and present the same before the committee.
Another committee was constituted to suggest workable procedures on alternative dispute resolution of tax matters. At the movement around Rs300 billion of revenue is stuck at various courts of the country. A subcommittee was constituted to suggest measures for conducting forensic audit of big taxpayers. The committee will suggest ways for selection of cases for audit.
According to an official, the procedures of the committees will first be submitted to the tax implementation committee, headed by its chairman Haroon Akhtar Khan who is the Special Assistant to Prime Minister on Revenue. Finance Minister Ishaq Dar will be the final authority to approve all the measures, the official added.
In September 2014, the government had constituted Tax Reforms Commission, with Masoud Naqvi as chairman. The TRC has already submitted its final report to the FBR early last year for implementation.
Naqvi termed the constitution of subcommittees a step in the right direction. He said the subcommittees are tasked to suggest ways for implementation of the TRC proposals.
