PM convenes FBR meeting tomorrow

ISLAMABAD: Before making key changes within the fold of tax collection machinery, Prime Minister Imran Khan has convened an important meeting of top management of the Federal Board of Revenue (FBR) tomorrow (Wednesday) for devising roadmap for achieving highly challenging target of Rs5,550 billion during the current fiscal year.

This scheduled meeting is going to finalise proposed FBR’s restructuring plan as well as making up final mind of top levels of government functionaries regarding key changes going to be made within the fold of tax machinery within next few days.

It would be the same meeting that was cancelled last week due to unknown reasons but now the premier would hold it tomorrow (Wednesday) with the purpose to hold broad-based consultation in start of fiscal year when the FBR is bound to achieve growth of over 40 percent in current fiscal compared to almost flat growth in the last financial year 2018-19.

“The FBR chairman may be elevated as adviser to PM on revenue,” said one official, and added that the fate of other key members would also be decided in this upcoming scheduled meeting with Imran Khan.

Meanwhile, the FBR ruled out possibility for withdrawal or reduction in GST rate of 17 percent for textile and other export-oriented sectors. Six hours long deliberations were held between the FBR and different sectors from Faisalabad. Besides four MNAs belonging to Faisalabad, the representatives of whole textile chain were present in the meeting.

During the meeting, the FBR showed some relaxation on the issue of fixed tax scheme for small shopkeepers. It has been agreed that small shopkeepers would be exempted from the condition of the CNIC and fixed tax would be collected from them.