Islamabad: The Federal Board of Revenue (FBR) has devised a framework regarding its three-year strategic and development plan, a news source reported. The board is collaborating with the World Bank on the project.
The framework has been devised in light of the recommendations given to FBR by four working groups constituted in October. The framework is likely to be presented for approval next week.
In October, a World Bank mission had visited Pakistan to officially launch the project in collaboration with the Department for International Development (DFID), McKinsey and Her Majesty’s Revenue and Customs (HMRC).
The federal cabinet had earlier accorded approval to separate tax policy from revenue administration. The separation of tax policy from revenue administration is part of several major tax reforms the government has undertaken in its bid to streamline tax administration. It also approved the third party audit of Pakistan Revenue Automation Limited (PRAL), the IT arm of FBR, which would be made autonomous with an independent board.
