ISLAMABAD: The meeting of Federal Board of Revenue’s (FBR) Tax Reforms Commission (TRC) will be held on August 26 (today) to finalise the strategy to bring the reforms keeping in view the suggestions presented by various bodies to it.
The meeting will be headed by TRC Chairman Masood Naqvi, while FBR Chairman Tariq Bajwa, who is also secretary of the commission, will also attend the meeting wherein the recommendation of the commission’s committees will also be considered. Finance Minister Ishaq Dar would also attend the meeting.
TRC was assigned different tasks by government including making the direct and indirect taxes and customs tariff reasonable, to review the FBR’s administrative structure and independency and develop a task force to curtail the illegal human trafficking and smuggling at the borders of the country.
It is important to mention here that TRC was established on September 25, 2014 and it was asked to present the suggestions and recommendation regarding the tax reforms within four months but after lapse of 11 months, it could not achieve its task.
Three months extension to the TRC was give on May 17, 2015 to complete its working which is expired on August 16. However, govt has not issued any notification regarding the more extension so far.
