ISLAMABAD - The Federal Board of Revenue (FBR) on Wednesday constituted a tax advisory council that would give recommendations for new revenue measures and to broaden the extremely low tax net of the country.
The tax advisory council encompasses all stakeholders including chartered accountants, academia, senior tax consultants, retied senior officers of Customs and Inland Revenue Services, industrialists, and presidents of different Chambers of Commerce including FPCCI. Finance Minister Senator Ishaq Dar has given approval for the constitution of tax advisory council.
According to the notification issued here, the council would recommend and discuss new tax measures. The council would provide input on different tax policy issues enabling the government to adopt a pluralistic view representing divergent interest groups and at the same time enhance tax revenues. Similarly, the tax advisory council would deliberate upon and suggest measures for extending tax measures.
The tax advisory council would also propose legislation. Similarly, the council would assist in any other function as agreed upon the council and FBR. The tax advisory council included 22 members. FBR has included two economists like Dr Ali Cheema, Lahore University of Management Sciences and Dr. Kazi Masud Ahmed, Professor/Director Centre for Business & Economic Research IBA, Karachi. The tax advisory council included four industrialists, Syed Yawar Ali, Nestle Pakistan Ltd, Lahore, Bashir Ali Muhammad, Gul Ahmed Textile, Karachi, S M Munir, Din Group, Karachi. Mohsin Aziz, former chairman APTMA, Peshawar.
The notification further showed that two chartered accountants including Asim Zulfiqar CA Lahore and Ishfaq Tola CA Karachi are also part of the tax advisory council. Similarly, the council included two tax consultants/advocates including Abid Shaban, Advocate and Akhtar Ali Naeem Advocate. Similarly, four former officers of the Federal Board of Revenue are part of the council.
The tax advisory council also included president FPCCI, president KCCI, President LCCI, President ICCI, President KPKCCI, President QCCI, Chairman Pakistan Business Council and Secretary General OICCI Pakistan.