Islamabad: The government is looking to establish a new tax policy division, with a board separate from Federal Board of Revenue (FBR) under the ongoing taxation reforms, a news source reported. FBR’s duty will be tax administration and collection, while the powers for policy formation will be transferred to the new board.
This was decided in a cabinet meeting led by Prime Minister Imran Khan. A summary will be presented in the next cabinet meeting for the purpose of creation of the new board. FBR will remain under the Revenue Division, while the new board will be established under the Finance Division.
Separate rules for posting, transfers, administration and reporting lines will be introduced for the new board. This board will be independent from the FBR, as per the FBR Act 2007.
Under the FBR Act 2007, there has been a provision for establishment of a policy board.
