Formation of the commission to help the government raise resources Pipa News

Formation of the commission to help the government raise resources

Islamabad: Finance Minister Ishaq Dar has constituted an 11-member Reforms and Resource Mobilization Commission (RRMC) to review existing revenue policies, budget proposals and amendments to the Finance Bill and suggest resource mobilization measures/policies.

A notification to this effect issued on Thursday said that the members of the PRMC, headed by Ashfaq Tola, include Asif Haroon, Haider Ali Patel, Abdul Qadir Memon, Dr Waqar Ahmed, Saqib Sheraji, Ghazanfar Bilour, President FPCCI or his nominee, the President. Pakistan will be Tax Bar Association, President FBR, Member (Reforms & Modernization) Commission Secretary FBR while Nisar Muhammad-Customs, Dr. Muhammad Iqbal-Income Tax and Abdul Hameed Memon-Sales Tax have been included as subject matter experts.

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Under the Terms of Reference (ToR) of the Commission, it will advise and make recommendations to the Finance Minister in the following areas: (i) Reviewing existing revenue policies, evaluating FBR data at the macro level and identifying initiatives, measures, policies Resource Mobilization, Ease of Doing Business, and Pro-Economic Growth (ii) Identifying the issues, difficulties, bottlenecks, risks of the existing tax system and recommending remedial measures (iii) Reviewing Budget proposals, their consequences on business appraise, and advise the Finance Minister on practical aspects of budget proposals (iv) review proposed amendments to the Finance Bill and make recommendations to the DAR on the implications of the proposed amendments on businesses (v) review complexities of lax legislation and Recommend simplification, viz., different compliance levels for different categories of taxpayers (vi) Suggest action plan to curb parallel economy and make recommendations for improving financial inclusion Documented system (vii) Modernize a system on the lines of To review and recommend robust IT system and upgrade of existing IT facilities to maximize tax compliance. enforcement, broadening the tax base and providing taxpayer convenience (viii) making recommendations for minimizing taxpayer/tax collector interaction and maximizing trust between the FBR and taxpayers (ix) advising on review and restructuring of the FBR.

The Commission would recommend banning FBR from this point of view; (a) evaluating the possibility of making the FBR autonomous; (b) to evaluate the possibility of establishing an independent audit system; (c) to evaluate the possibility of setting up a separate Legal Department (x) to make recommendations on harmonization of GST between the Union and the Provinces and development of a single portal for filing Sales Tax Returns (xi) any other related matter .

commission; (i) be independent and headed by a whole-time Chairman and its Chairman shall report directly to the Finance Minister; (ii) interact with stakeholders and form sub-groups, and evaluate their proposals for the Union Budget (i) co-opt any other person with the prior approval of the Finance Minister ; (iv) avail the services of any expert(s) on need basis; (v) The FBR will have a full-time secretariat and the FBR will provide logistics and RR support to the Commission; (vi) take decisions by majority of all the members; (vii) submit its first report by mid-April 2023.

Copyright Business Recorder, 2022

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