FBR To Introduce New Laws To Meet Tax Targets—FBR Tax Reforms – Research Snipers

FBR To Introduce New Laws To Meet Tax Targets—FBR Tax Reforms

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According to press release Federal Board of Revenue (FBR) made it clear while clearing the misconceptions of existing tax payers that the new tax laws would not affect current tax payers but it would rather expand the tax network for prosperity of Pakistan, said Chairman Muhammad Irshad while addressing the ceremony held in District Taxation Office (DTO) Charsadda.

Irshad also highlighted another notable development by FBR, he said, that Chinese language learning has been made mandatory in all training institutes of FBR. Irshad insisted this is really important because of the cooperation between China and Pakistan over the development of China-Pakistan Economic Corridor (CPEC), which could boost Pakistan’s economy and secure long-term growth.

Under the new reforms by FBR the DTO offices would have autonomous to greater extent, they will serve as mini-RTO offices having administrative as well as financial powers, they will be able to recruit staff according to their needs autonomously.

Chairman further added, the District Tax Officer would take charge of the whole district and represent at Tehsil level in which he will be responsible of tax collection and other affairs reporting.

Further the DTO would have separate office having powers of verification, rectification for all tax payers’ issues and problems. DTO offices will be able to receive budget from state directly rather than from additional commissioners.

However, DTO will be responsible for reporting to Commissioner. In this regard, Commissioner would pay a visit on first week of every month in order to resolve any tax related issues whereas, chief commissioner will be visiting the DTO office quarterly, he said.

FBR INVESTIGATING TAX EVASION AND MONEY LAUNDERING BY TRADERS USING BITCOIN INVESTMENTS

Cairman FBR admired tax payers and said, Tax payers are the assets of the country, he also called upon the tax officers to improve the facilitation of tax payers and expand the existing tax payers network. He also rectified the myth about new reforms and said that it will only help FBR to increase its tax network.

He also made clear that we must have to adopt Chinese language in order to remove the communication barrier among two cooperating nations, which is important for our future growth, FBR has taken the step to make Chinese language compulsory in all FBR training institutions for this purpose.