Federal Minister of Finance and Revenue Ishaq Dar has constituted a Reforms and Resource Mobilization Commission (RRMC) to help review tax laws, revenue policies and assess budget proposals.
As per a notification issued by the Federal Board of Revenue (FBR), the commission will comprise 11 members, headed by Ashfaq Tola as Chairman. Other members will include Asif Haroon, Haider Ali Patel, Abdul Qadir Memon, Dr. Veqar Ahmed, Saqib Sherazi, Ghazanfar Bilour, Chairman FBR, Member (R&M) FBR, President FPCCI, and President Pakistan Tax Bar Association.
The commission will advise and make recommendations to the Finance Minister in reviewing existing revenue policies, evaluate FBR data at the macro level, and identify initiatives/measures/policies for resource mobilization, ease of doing business, and pro-economic growth.
The RRMC will help identify issues of the existing tax system and recommend remedial measures. It will also assist in reviewing budget proposals, evaluating their consequences on business, and advising the finance minister on practical aspects of budget proposals.
Other functions include:
- to review proposed amendments in Finance Bill
- to review the complexities of tax legislation
- to suggest an action plan to curb the parallel economy
- to review and recommend robust IT system
- to make recommendations for minimizing taxpayer/tax collector interaction and maximizing trust between FBR and taxpayers
- to review and revise the restructuring of FBR under the given conditions
- to make recommendations on GST harmonization between federation and provinces; and the development of a single tax filing portal
The RRMC will be independent and its Chairman will report directly to the finance minister. It will have a full-time secretariat at FBR headquarters and receive relevant support from the tax regulator as per requirements.
The commission will submit its first report by mid-April 2023.