FBR plans institute for higher tax education

KARACHI: The Federal Board of Revenue (FBR) has decided to establish a state-of-the-art tax institute in which revenue officials will be schooled by the world class experts with the help of advanced curriculum and modern technology tools, the sources said on Saturday. 

“The proposed National School of Taxation and Finance (NSTF) is not only aimed at building the capacity of Inland Revenue (IR) officers, but also enabling the country to achieve the official status of regional IR training hub for neighboring countries e.g. Afghanistan, Sri-Lanka, Gulf States, Iran, India, china, Nepal, Bangladesh etc.,” the sources told The News. 

“The FBR has issued plan in consultation with Tax Reform Commission (TRC) in a meeting held on March 02, 2017.”  They said the existing Directorate General of Training and Research (DGTR) of IR will be transformed to the proposed school. 

“The rationale for the school is based on the notion that after the recently held Economic Cooperation Organization (ECO) summit 2017 trade between member countries would be doubled, while economic activity is also expected to increase exponentially in the wake of in China Pakistan Economic Corridor (CPEC),” they added. 

The sources also revealed the proposed NTFS will also deal with avoiding Intellectual Property Rights (IPRs), benami transactions, money laundering etc.  

“As per plan, the FBR will also offer certificate and degree programs for private sector tax and finance professionals for ensuring sustainability in the tax system,” the sources said, adding, In this regard, the FBR has invited suggestions from IR officers on the plan, which should be submitted by March 10, 2017.