KARACHI: The Federal Board of Revenue (FBR) has announced the formation of Tax Advisory Council and its functions to evolve new tax measures for increasing the tax net, a circular said on Wednesday.
The council is constituted of all stakeholders including chartered accountants, academia, senior tax consultants, retired senior officers of customs and Inland Revenue Services, industrialists, President of FPCCI and four provincial CCIs, the FBR said.
The specified functions have been designed for the Tax Advisory Council which included:
1. To recommend and discuss new tax measures
2. To provide input on different tax policies issues enabling the government to adopt a pluralistic view representing divergent interest group, and at the same time enhance tax revenues.
3. To deliberate upon and suggest measures for extending tax net.
4. To propose legislation which would minimize opposition and increase compliance to law.
5. Assist in any other function as agreed upon by the council and FBR.
According to notification, the Tax Advisory Council of FBR shall include the following members are included from different sectors of the economy:
Dr Ali Cheema, Lahore University of Management Sciences
Dr Kazi Masud Ahmed, Professor/Director Centre for Business & Economics Research IBA, Karachi
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
Chartered Accountants:
Asim Zulfiqar, CA, Lahore
Ishfaq Tola, CA, Karachi
Advocates/Tax Consultants:
Abid Shaban, Advocate
Akhtar Ali Naeem, Advocate
Former FBR officers:
Irfan Nadeem, Former Member, FBR/Former Federal Secretary
Dr Manzoor Ahmad, Former Member, Customs FBR
Khalid Aziz Banth, Former Member (Operations) FBR
Habib Fakhruddin, Former Member, FBR
Ex-Officio Members:
President, FPCCI, Karachi
President Karachi Chamber of Commerce and Industry
President Lahore Chamber of Commerce and Industry
President Islamabad Chamber of Commerce and Industry
President KPK Chamber of Commerce and Industry
President Quetta Chamber of Commerce and Industry
Chairman Pakistan Business Council
Secretary General OICCI, Pakistan
However, it will be issued after the approval of Finance Minister, the FBR added.