Saturday, 06 August 2011 09:44
ISLAMABAD - A crucial meeting of Board-in-Council of the Federal Board of Revenue (FBR) has been convened on Monday in order to review important issues including the most controversial one of delegation of powers to the FBR s members.
The FBR Board-in-Council s Progress review meeting would discuss the delegation of powers of the FBR s members, as there are lots of reservations among some members of the board and Chairman regarding the delegating powers of the FBR members.
The Member Inland Revenue, Khawar Khurshid Butt, other day in Chief Commissioners Conference showed serious concerns over the withdrawal of all power of transfers and postings of tax officials in LTUs and RTOs from the IRS member. He said that it was not possible to achieve the revenue collection target of the previous fiscal year 2010-2011 without delegating power to member and in this regard he referred to the April 2 notification wherein all powers from member IRS was withdrawn. However, Chairman FBR assured the meeting that this issue would be taken up in the board-in-council meeting, which would be held on Monday at FBR headquarter.
According to the official Statement of the FBR, the meeting would also discuss the revenue generation strategy for all taxes in order to ensure realisation of the revenue collection target of Rs 1. 952 trillion set for the ongoing financial year 2011-2012.
Similarly, the meeting would also devise strategy for the cases stuck up arrears in various courts, as according to the official of FBR more than Rs 100 billion arrears in all taxes. The meeting would also review the progress on BTB initiatives, cases of illegal input adjustment of Sales Tax, filing of representation against the orders of Federal Tax Ombudsman and improving of internal controlling accounting systems.
The meeting will be chaired by Salman Siddique, Secretary Revenue division / chairman FBR and to be attended by members of the Board, Additional Secretary Revenue Division and relevant DGs.
Forex open Market rates & comments Archive