Finalisation of revised summary to cabinet: Deliberations continue on FBR restructuring

ISLAMABAD: The Inter-Ministerial Committee (IMC), headed by caretaker Finance Minister Dr Shamshad Akhtar, continued deliberations on Thursday on the restructuring of Federal Board of Revenue (FBR) for finalisation of the revised summary to the cabinet by January 29.

It is learnt that the finance minister has maintained her stance of restructuring of the FBR to broaden the tax base and increase the tax-to-GDP ratio.

The Inter-Ministerial Committee continued its deliberations on revamping of tax machinery at the Ministry of Finance on Thursday.

The members of the committee included caretaker federal ministers for privatisation, foreign affairs, commerce, energy, law and justice, and information technology.

The inter-ministerial committee will present its recommendations regarding these proposals in the next meeting of the federal cabinet.

Caretaker Finance Minister Dr Shamshad Akhtar had reportedly prepared a summary for the Special Investment Facilitation Council (SIFC) on the restructuring plan.

Earlier, the cabinet meeting presided over by Caretaker Prime Minister Anwaarul Haq Kakar held a detailed discussion on the proposals made regarding the restructuring and digitization of the FBR.

The caretaker prime minister directed to establish an inter-ministerial committee under the chairmanship of the federal finance minister in light of the opinions of the cabinet members regarding the proposals presented concerning the FBR reforms.

The Cabinet acknowledged the efforts of the caretaker Federal Minister for Finance Dr Shamshad Akhtar for increasing the tax revenue in the country, improving the tax-GDP ratio and the detailed proposals made regarding the administrative structure of the FBR.

Copyright Business Recorder, 2024