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The seventh meeting of the Tax Reforms Core Group (TRCG) was held in the Board Room of FBR Headquarters under the chairmanship of Federal Minister for Finance Dr. Abdul hafeez Sheikh.
The meeting discussed the progress due to reorganization of FBR, finalization of administrative-measures agreed with World Bank in April 2011, Centralized Audit, Revenue collection of FBR as well as expanding the Outreach Program. The meeting included an update on redrafting the treatment of five zero-rated export sectors, Tax incentivization scheme as well as proposals of stamps on cigarette packs to help identify/smuggled/non-excise paid cigarette packs and enforcement of Capital Gains Tax.
The meeting was attended by Chairman FBR Mr. Salman Siddique, Deputy Chairman Planning Commission Mr. Nadeem ul Haq, Members (TRCG) Mr. Abdullah Yusuf, Mr. Habib Fakhruddin, Mr. Arshad Zuberi, Mr. Bashir Ali Mohammad, Mr. Ali Jameel, Mr. Muhammad Arshad Chaudhry, Mr. Ashfaq Tola, Chairman SECP Mr. Muhammad Ali, alongwith the core team members of FBR, Mr. Mumtaz Haider Rizvi, Member (Customs), Hafiz Muhammad Anees, Member (Taxpayers Audit), Ms. Riffat Shaheen Qazi, Member (FATE), Mr. Shahid Hussain Asad, Member (IR), Sardar Amimullah Khan, Member (Enf. & Acctt), Mr. Imtiaz Ahmad Khan, GM PRAL, Dr. Amna Khalifa DG (SP&R) and Dr. Khaqan Hassan Najeeb DG (ERU), Finance Division.
The Finance Minister reviewed the revenue performance of FBR and desired that a follow-up meeting of the TRCG be held after two weeks to have a complete analysis of the taxpayers’ data and to discuss strategy to pursue the non-taxpayers.
Progress of Broadening of Tax Base was discussed alongwith review of the progress on the 295,000 notices issued to non-filers. The minister also directed the Member (IR) to ensure that notices to the remaining 300,000 non-tax filers be issued on priority
Member (TRCG) , Mr. Muhammad Ali, would also give a presentation on Capital Gains Tax (CGT) in the follow up meeting alongwith relevant data and strategy for enforcement of CGT based on meetings with Member (IR).
The Policy Wing of FBR was asked to give a breakup of revenue based analysis of the amount of revenue generated due to exclusive efforts of FBR, and those due to the policy decisions and due to exchange rate difference. The expected revenue collection during the period January to June 2012 was also reviewed. The Minister for Finance desired that in the next meeting, the preliminary budget proposals and efficiency enhancement measures would also be taken up for discussion.
Earlier Member IR Mr. Shahid Hussain Asad, Member (Customs) Mr. Mumtaz Haider Rizvi, DG (SP&R) Dr. Amna Khalifa gave presentations on performance and revenue targets of FBR while Member (FATE) Ms. Riffat Shaheen Qazi , gave a presentation on the Outreach and Awareness programs with the way forward strategy for expanding the Outreach programs. Proposals were also put forward by members of TRCG on various policy issues.
The Federal Minister for Finance, at the close of meeting, appreciated the efforts of FBR officers and expressed confidence and hope that the assigned budget targets would be achieved through sustained efforts.