Islamabad: The federal cabinet has accorded approval to separate tax policy from revenue administration, a news source reported. A committee has been formed in this regard which will work out the legal and technical modalities.<\/p>\n
The separation of tax policy from revenue administration is part of several major tax reforms the government has undertaken in its bid to streamline tax administration. A Tax Policy Board (TPB) will be established to facilitate the business community.<\/p>\n
A full-fledged organisation development programme has also been launched to assist the Federal Board of Revenue (FBR). The project has been launched in collaboration with the World Bank, Department for International Development (DFID), McKinsey and Her Majesty\u2019s Revenue and Customs (HMRC).<\/p>\n
The government has approved the third party audit of Pakistan Revenue Automation Limited (PRAL), the IT arm of FBR, which would be made autonomous with an independent board.<\/p>\n
FBR will also sign formal access protocols with third party database providers in order for the board to access information on potential high net worth taxpayers.<\/p>\n","protected":false},"excerpt":{"rendered":"
Islamabad: The federal cabinet has accorded approval to separate tax policy from revenue administration, a news source reported. A committee has been formed in this regard which will work out the legal and technical modalities. The separation of tax policy from revenue administration is part of several major tax reforms the government has undertaken in its bid to streamline tax administration. A Tax Policy Board (TPB) will be established to facilitate the business community. A full-fledged organisation development programme has also been launched to assist the Federal Board of Revenue (FBR). The project has been launched in collaboration with the World Bank, Department for International Development (DFID), McKinsey and Her Majesty\u2019s Revenue and Customs (HMRC). The government has approved the third party audit of Pakistan Revenue Automation Limited (PRAL), the IT arm of FBR, which would be made autonomous with an independent board. FBR will also sign formal access protocols with third party database providers in order for the board to access information on potential high net worth taxpayers.<\/p>\n","protected":false},"author":67,"featured_media":26795,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[9224],"persona":[],"class_list":["post-45171","post","type-post","status-publish","format-standard","has-post-thumbnail","tag-major-fbr-reforms-underway"],"acf":[],"yoast_head":"\n