{"id":93890,"date":"2023-06-13T12:53:18","date_gmt":"2023-06-13T07:53:18","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=93890"},"modified":"2023-06-13T12:53:20","modified_gmt":"2023-06-13T07:53:20","slug":"international-center-tax-excellence-fbr","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/international-center-tax-excellence-fbr.html","title":{"rendered":"FBR to set up International Centre of Tax Excellence"},"content":{"rendered":"\n<p>Islamabad: The Federal Board of Revenue (FBR) has announced plans to establish an International Centre of Tax Excellence in order to incorporate the expertise of independent tax specialists during the formulation of the country&#8217;s tax policies, according to news published in the leading newspaper on June 11.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/fbr-retailers-income-sales-tax.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR reports stats of retailers\u2019 income tax, sales tax deposits in FY-22<\/a><\/p>\n\n\n\n<p>This initiative will be carried out under the proposed section &#8220;230J&#8221; in the Income Tax Ordinance of 2001. The primary functions of the International Center of Tax Excellence by FBR, as outlined in the Finance Bill 2023, will include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Contributing to the development of tax policy<\/li>\n\n\n\n<li>Creating model national tax policies<\/li>\n\n\n\n<li>Conducting interdisciplinary research in tax administration and policy<\/li>\n\n\n\n<li>Facilitating international tax cooperation<\/li>\n\n\n\n<li>Revenue forecasting<\/li>\n\n\n\n<li>Organizing international seminars, workshops, and conferences on pertinent issues faced by tax authorities in the field of international taxation<\/li>\n<\/ul>\n\n\n\n<p><strong>Read:<\/strong><a href=\"https:\/\/www.zameen.com\/news\/property-valuation-rates-for-fy-24.html\"> <\/a><a href=\"https:\/\/www.zameen.com\/news\/property-valuation-rates-for-fy-24.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR, provinces to jointly determine property valuation rates for FY-24<\/a><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Enhancing the capabilities of inland revenue officers<\/li>\n\n\n\n<li>Conducting tax analyses<\/li>\n\n\n\n<li>Improving the design and implementation of tax administration to maximize revenue within existing provisions, with the aim of reducing the tax gap<\/li>\n\n\n\n<li>The institute may undertake any other functions as directed by the Board or the Federal Government<\/li>\n<\/ul>\n\n\n\n<p>To ensure effective governance, a Nominating Committee will be established, consisting of the Minister-in-Charge, Secretary of the Revenue Division, and Secretary of Finance. This committee will be responsible for recommending a panel of candidates for the appointment of an Executive Director and independent members of the Executive Committee to the Federal Government. The Executive Committee will comprise the Chairman of the Federal Board of Revenue, Member (IR-Policy), Member (IR-Operations), and two independent members appointed by the Federal Government. The Executive Director will also act as the Secretary of the Executive Committee.<\/p>\n\n\n\n<p>The employees of the Institute and the Executive Director will adhere to the prescribed rules. It is mandated that at least 50% of the employees must be current or retired Inland Revenue officers with a minimum of five years of experience in tax policy or tax administration.<\/p>\n\n\n\n<p><strong>Read:<\/strong><a href=\"https:\/\/www.zameen.com\/news\/fbr-releases-active-taxpayers-list.html\"> <\/a><a href=\"https:\/\/www.zameen.com\/news\/fbr-releases-active-taxpayers-list.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR releases latest \u2018Active Taxpayers\u2019 List\u2019<\/a><\/p>\n\n\n\n<p>The Board will provide the Institute with the necessary data for processing, analysis, and fulfilling its obligations. However, this data will be anonymized before transmission to the Institute, and the identifying information of taxpayers will be kept confidential in accordance with the provisions outlined in sub-section (7) of section 216, as introduced by the Finance Bill 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Federal Board of Revenue (FBR) has announced plans to establish an International Centre of Tax Excellence.<\/p>\n","protected":false},"author":83,"featured_media":75334,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15020],"tags":[57080,19230],"persona":[],"class_list":{"0":"post-93890","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-social-developments","8":"tag-fbr-to-set-up-international-centre-of-tax-excellence","9":"tag-federal-board-of-revenue-fbr","10":"cat-15020-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>International Center of Tax Excellence by FBR- Zameen News<\/title>\n<meta name=\"description\" content=\"The government has plans to set up International Center of Tax Excellence by FBR to get inputs from experts for making tax policy....\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/international-center-tax-excellence-fbr.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"International Center of Tax Excellence by FBR- Zameen News\" \/>\n<meta property=\"og:description\" content=\"The government has plans to set up International Center of Tax Excellence by FBR to get inputs from experts for making tax policy....\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/international-center-tax-excellence-fbr.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-13T07:53:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-13T07:53:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/04\/FBR.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Iqra Masood\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Iqra Masood\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"International Center of Tax Excellence by FBR- Zameen News","description":"The government has plans to set up International Center of Tax Excellence by FBR to get inputs from experts for making tax policy....","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zameen.com\/news\/international-center-tax-excellence-fbr.html","og_locale":"en_US","og_type":"article","og_title":"International Center of Tax Excellence by FBR- Zameen News","og_description":"The government has plans to set up International Center of Tax Excellence by FBR to get inputs from experts for making tax policy....","og_url":"https:\/\/www.zameen.com\/news\/international-center-tax-excellence-fbr.html","og_site_name":"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News","article_publisher":"https:\/\/www.facebook.com\/ZameenPK","article_published_time":"2023-06-13T07:53:18+00:00","article_modified_time":"2023-06-13T07:53:20+00:00","og_image":[{"width":1170,"height":400,"url":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/04\/FBR.jpg","type":"image\/jpeg"}],"author":"Iqra Masood","twitter_card":"summary_large_image","twitter_creator":"@ZameenProperty","twitter_site":"@ZameenProperty","twitter_misc":{"Written by":"Iqra Masood","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/www.zameen.com\/news\/international-center-tax-excellence-fbr.html#article","isPartOf":{"@id":"https:\/\/www.zameen.com\/news\/international-center-tax-excellence-fbr.html"},"author":{"name":"Iqra Masood","@id":"https:\/\/www.zameen.com\/news\/#\/schema\/person\/377abfe4dc60870161cf052d458a2925"},"headline":"FBR to set up International Centre of Tax Excellence","datePublished":"2023-06-13T07:53:18+00:00","dateModified":"2023-06-13T07:53:20+00:00","mainEntityOfPage":{"@id":"https:\/\/www.zameen.com\/news\/international-center-tax-excellence-fbr.html"},"wordCount":408,"commentCount":0,"publisher":{"@id":"https:\/\/www.zameen.com\/news\/#organization"},"image":{"@id":"https:\/\/www.zameen.com\/news\/international-center-tax-excellence-fbr.html#primaryimage"},"thumbnailUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/04\/FBR.jpg","keywords":["FBR to set up International Centre of Tax Excellence","Federal Board of Revenue (FBR)"],"articleSection":["Social Developments"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.zameen.com\/news\/international-center-tax-excellence-fbr.html#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.zameen.com\/news\/international-center-tax-excellence-fbr.html","url":"https:\/\/www.zameen.com\/news\/international-center-tax-excellence-fbr.html","name":"International Center of Tax Excellence by FBR- Zameen News","isPartOf":{"@id":"https:\/\/www.zameen.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.zameen.com\/news\/international-center-tax-excellence-fbr.html#primaryimage"},"image":{"@id":"https:\/\/www.zameen.com\/news\/international-center-tax-excellence-fbr.html#primaryimage"},"thumbnailUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/04\/FBR.jpg","datePublished":"2023-06-13T07:53:18+00:00","dateModified":"2023-06-13T07:53:20+00:00","description":"The government has plans to set up International Center of Tax Excellence by FBR to get inputs from experts for making tax policy....","breadcrumb":{"@id":"https:\/\/www.zameen.com\/news\/international-center-tax-excellence-fbr.html#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.zameen.com\/news\/international-center-tax-excellence-fbr.html"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.zameen.com\/news\/international-center-tax-excellence-fbr.html#primaryimage","url":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/04\/FBR.jpg","contentUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/04\/FBR.jpg","width":1170,"height":400},{"@type":"BreadcrumbList","@id":"https:\/\/www.zameen.com\/news\/international-center-tax-excellence-fbr.html#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.zameen.com\/news"},{"@type":"ListItem","position":2,"name":"FBR to set up International Centre of Tax Excellence"}]},{"@type":"WebSite","@id":"https:\/\/www.zameen.com\/news\/#website","url":"https:\/\/www.zameen.com\/news\/","name":"Pakistan Real Estate News &amp; 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