Tax reform commission: concern over slow pace of recommendations’ implementation
Private members of the Tax Reform Implementation Committee (TRIC) Friday expressed serious concern over slow pace of implementation of the recommendations of the tax reform commission. It is learnt that the TRIC meeting was convened here at the FBR house here on Friday. According to sources, private members of the TRIC raised their voice over very slow progress in the implementation of the recommendations of the tax reform commission.
Private members said that if the FBR is unable to expedite process of the reforms as suggested by the commission, it may result in serious problems in reforms implementation. It may be difficult to run the commission in future in case such slow progress continues. Private members said that the specifically track and trace system for tobacco sector has been finalized after detailed research and analysis. It should be implemented without further delay.
At present the pace of the implementation of reforms is very slow and it should be expedited. Due to slow pace, it is difficult to achieve overall objectives and the desired results of the commission. It was decided to convene TRIC meeting on monthly basis to ensure speedy implementation of the reforms suggested by the TRIC, sources said. The government had implemented some short recommendations of the Tax Reform Commission (TRC) in Finance Bill 2016.
Some of the short-term recommendations of the TRC were proper valuation of immovable properties, simplification of laws, structural ethics and Grievance Redressal System both at Chief Commissioner/Collector level and FBR (HQs) and use of Mufassil units for the purpose of BTB. Other short-term recommendations of the TRC were improvement in IT system/automation to reduce the cost of compliance and emphasis to curb corruption and liaison with NAB for implementation of recommendation against corruption.
Other short-term recommendations of the TRC included utilisation of Withholding tax data, utilisation of NADRA data for the purpose of BTB, changes in procedure of Alternative Dispute Resolution (ADR). The recommendations also included administrative reforms, taxation of small company, development of harmonised tax codes strengthening audit and capacity building of officers.