IR Common Pool Fund-2023: FBR to make contribution from rewards to diligent taxmen

ISLAMABAD: The Federal Board of Revenue (FBR) will contribute to Inland Revenue Common Pool Fund-2023 from the rewards sanctioned to the Inland Revenue officials on detection of tax evasion and showing extraordinary performance in making assessments or successful prosecutions in courts.

The FBR has issued the draft of certain further amendments to “The Inland Revenue Reward Rules, 2021 through a S.R.O. 648(l)1 2023.

The FBR has also made eligible officials of the Directorate General Anti-Benami Initiative and Benami Zones to claim IR rewards on cases made under the Anti-Money Laundering Act, 2010, and Benami Transaction (Prohibition) Act, 2017.

FBR establishes IRS Common Pool Fund

According to the new rules, a new rule, ie, Contribution to Inland Revenue Common Pool Fund 2023 has been issued. An amount equal to 5 percent of the rewards sanction under Rule 5 in respect of officers in BS-17 & above and 2.5 percent of the rewards sanction under Rule 5 in respect of officials in BS-16 & below shall simultaneously be processed, approved, and deposited in the Inland Revenue Common Pool Fund-2023, the FBR added.

As per the draft rules, the term “Extraordinary Performance” means a duly notified activity-oriented task assigned to and performed by an officer or a staff or a group of officers or staff up to an exhibited degree of excellence and within the timelines prescribed and pre-notified for the purpose or any performance as is approved by the Chairman FBR including assessment or successful prosecution.

Copyright Business Recorder, 2023