Finance minister, FBR discuss tax amnesty scheme, revenue generation

The minister urged the FBR to come up with measures to simplify returns filing, automated processes to enhance revenue generation.

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ISLAMABAD: The Finance Minister, Shamshad Akhtar chaired a high-level meeting at the Federal Board of Revenue (FBR) here on Tuesday.

During the meeting, FBR chairman briefed the minister about the progress of the Tax Amnesty Scheme and the current state of revenue generation. He said that moral suasion has been the hallmark of FBR’s drive to encourage people to declare their assets at home and abroad and contribute to the national exchequer. He said that overall, there has been a positive response to the amnesty scheme and it would have a significant bearing on revenue generation.

The chairman shared with the minister details about the task carried out by the Tax Reforms Committee over a period of time, making recommendations and proposals for reformation of the tax regime. He also apprised her about the working of the high-powered implementation committee which has seen to it that recommendations for tax reforms are prioritised in terms of their utility and implemented in letter and spirit.

The finance minister, while reiterating that the date for the amnesty scheme would not be extended, urged senior FBR officials to keep up efforts for best possible results under the scheme. She also emphasized effectively utilising public liaison/advertisement campaign during the remainder of the scheme’s validity period to take the scheme to a meaningful and conclusive end.

The minister also on this occasion called upon the FBR to come up with measures, particularly those for simplification of filing of returns and automation that can help enhance revenue generation. She also highlighted the need for installation of quality scanners at all the ports, completely replacing physical checking for Customs clearance, a step that she said would help boost revenue.

Members of the Tax Reforms Committee and senior officials of the FBR attended the meeting.