Hafeez Sheikh chairs FBR policy board meeting to discuss TORs.
Adviser to the Prime Minister on Finance Dr. Abdul Hafeez Sheikh Thursday chaired the 3rd meeting of the Federal Board of Revenue (FBR) Policy Board in Islamabad.
Hafeez Sheikh chairs FBR policy board meeting
The meeting discussed proposed terms of references of the policy board.
After the approval of the minutes of the previous meeting, the members proceeded with the discussion on the proposed terms of references of the Policy Board.
Minister for Industries and Production, Hammad Azhar and former Chairman FBR Abdullah Yousaf had proposed TORs.
Meanwhile, the sub-committee presented the proposed ToRs before Policy Board for discussion.
The members of the Board gave their valuable input to fine tune the same.
They held extensive discussion on the task assigned to another sub-committee. It included Hammad Azhar and Faiz-ullah- Kamoka for designing a mechanism of data sharing between FBR and NADRA.
During the meeting, the chair also inquired on the progress of clearance of containers on the Torkham Borders.
Concerned officials briefed the chair of return of normal situation at the Torkham Border and the trade and business also continue as usual.
The current situation, due to the COVID-19, is no longer the cause of concern for the traders.
Guidelines to refine the proposed ToRs
After detailed discussion with all the members of the Board, the chair certain guidelines to refine the proposed ToRs.
The guidelines to refine the proposed ToRs would be acted upon under the supervision of the Special Assistant to PM on Revenue Dr. Waqar Masood Khan.
Adviser Finance Hafeez Shaikh reiterated the need to broaden the tax net through the use of data, already available with FBR, without burdening the existing tax payers.
He advised Special Assistant to PM on Revenue, Dr. Waqar Masood Khan to formulate a proposal for liaison between NADRA and FBR for data analysis to fulfill the requirements of FBR.
Furthermore, he urged him to ensure all stakeholders on board.
Adviser Finance directed that the Policy Board may also look into important issues that need special attention of the Government regarding tax collection and trade management.