ICAP sug­gests en­hance­ment of tax base

Pakistan Observer - - ECONOMY WATCH - STAFF RE­PORTER

KARACHI—The In­sti­tute of Char­tered Ac­coun­tants of Pak­istan in its bud­get pro­posal has given a roadmap to broaden tax base, fa­cil­i­tate al­ready reg­is­tered tax­pay­ers, abol­ish tax amnesty schemes and im­prove gover­nance in FBR. A Pre bud­get sem­i­nar was or­ga­nized by ICAP in Karachi Syed Ayaz Mehmood, Chief Com­mis­sioner (In­land Rev­enue), Large Tax­payer Unit Karachi, Fed­eral Board of Rev­enue was the chief guest. With ref­er­ence to di­rect tax­a­tion, Asif Ha­roon, FCA, Mem­ber, ICAP Tax­a­tion Com­mit­tee, said that ICAP has rec­om­mended that tax pol­icy board should play its role in for­mu­la­tion of fis­cal pol­icy as a sup­port to leg­isla­tive func­tion; and act as an over­sight over the per­for­mance of the FBR.

‘Only Min­is­ter for Plan­ning from the cabi­net should be the mem­ber of board whereas rest of the board should com­prise of rep­re­sen­ta­tives of ma­jor stake­hold­ers viz. FPCCI, economists, In­sti­tute of Char­tered Ac­coun­tants of Pak­istan etc. It was sug­gested that tax struc­ture should be reformed that en­sures avoid­ance of mul­ti­ple tax­a­tion by Prov­inces and / or Fed­eral Gov­ern­ment. While talk­ing about pol­icy re­forms in ap­pel­late fo­rum, Asif Ha­roon said ‘Appeals should be brought un­der the ad­min­is­tra­tive con­trol of Fed­eral Min­istry of Law and the Ap­pel­late Tri­bunal un­der the con­trol of the High Court of the re­spec­tive ju­ris­dic­tion; No re­cov­ery of tax de­mand be cre­ated till the de­ci­sion of Com­mis­sioner-Appeals; Of­fi­cers of the tax depart­ment should not be ap­pointed as ju­di­cial mem­bers of the Ap­pel­late Tri­bunal’.

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