Finance Minister Ishaq Dar has given a detailed plan to the Federal Board of Revenue for effective implementation and monitoring of the new tax incentives scheme and established a central monitoring office in the FBR HQ to run the scheme amicably at the national level.
Sources told Business Recorder here on Monday that the Finance Minister has highly appreciated the role played by the FBR team of tax managers for its effective launching of the scheme.
According to Ishaq Dar, “I would like to appreciate the efforts made by the Federal Board of Revenue in formulating the tax incentives scheme, which was announced by Prime Minister Nawaz Sharif on November 28, 2013. Initial reports show that the scheme has received positive public response indicating the appropriateness and effectiveness of the incentives,” he said.
The Finance Minister further informed FBR Chairman Tariq Bajwa that the FBR should now put in place an effective implementation and monitoring mechanism so that the scheme can be properly implemented and the public is facilitated in availing various facilities announced. This needs to be done on top priority basis.
Therefore, it has been advised to the FBR that a cell may be created in the FBR to inter alia particularly focus on the following on which the Prime Minister would like to be kept updated on weekly basis:
Firstly, establishment of Prime Minister’s tax Incentives’ Scheme Counters in every tax office; particularly those of the Deputy Commissioners and above.
Secondly, notification of “focal persons” at the level of Commissioner office with due publication in press and FBR website.
Thirdly, establishment of a web-based portal facilitating new taxpayers in registering them and making online payments. Fourthly, establishment of a Complaint-Registration-and-Redressal system on the website of FBR, with a link on the PMO’s website.
Fifthly, advertisement and publicity in print and electronic media.
Sixthly, holding meeting and arranging seminars and Associations/Chambers/Federations to explain the features of the package and answering any queries. Commissioners must ensure that these are arranged and held at the earliest.
Seventhly, establishment of a “Central Monitoring Office” in the FBR Headquarters to ensure that the scheme is administered in an effective manner and that all the above steps are duly taken by the officers concerned in an effective and timely manner. The FBR should monitor the implementation of the scheme and keep Finance Ministry informed through weekly reports, Ishaq Dar added.
Following direction of the Finance Minister, the FBR has established a committee to ensure implementation of the scheme in an effective manner at the level of the Board and field formations.
The committee headed by FBR Member Inland Revenue Policy would comprise the following members: FBR Member IR Operations, Chief Income Tax Policy, Irfan Raza Secretary TPA-I and a tax official would act as a co-ordinator. The committee would address the issues pertaining to the Tax Incentives Scheme, sources said.
Author: Sohail Sarfaraz
Source: Business Recorder