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A meeting of the Reforms Coordination Group, set up in the Federal Board of Revenue to spearhead the ongoing reforms process, was held at the FBR House here to discuss and review the pace of ongoing tax reforms.
The meeting was chaired by Mr. Vakil Ahmed Khan and attended by Mr. Asrar Raouf, Member Policy (Direct Taxes), tax expert Mr. Shabar Zaidi, Mr. Muhammad Arshad Chaudhry, representative of the business community as well as officers of the Policy Wing.
Progress and general direction of tax reforms in the light of reforms objectives were discussed in detail. It was observed that reform objectives were needed to be disseminated to all the stakeholders in a more elaborate manner for a proper and better understanding of the reforms initiatives.
The meeting also felt the need for establishment of a core unit at FBR Headquarters to gather and use data on income, expenses and assets of persons from different sources, laying emphasis on utilization of the same for ensuring correct filing of Income Tax returns for the Tax Year 2010 and tracing the non-filers for further necessary action under the law.
It was also recommended that updated data of electricity consumers and the data collected as per survey forms in 2001 shall be utilized to enforce the Income Tax Returns. It was also discussed and decided that the group will present its topic-wise reports after further deliberations, as early as possible.