Escolar Documentos
Profissional Documentos
Cultura Documentos
MA`AM FAIZA
SUBMITTED BY
ANUM KHAN
ERMA SALEEM
NIMRAH AHMED
NOORULAIN
WEBSITES:
www.google.com
www.fbr.gov.pk
www.cbr.gov.pk
THANKS.
• HISTORY OF CBR
• HISTORY OF FBR
BUDGET ALLOCATION.
ANNUAL REPORT.
REPRESENTATION BY PUBLIC.
• HISTORY OF CBR:
The Central Board of Revenue was created on April 01, 1924 through the Central
Board of Revenue Act, 1924. In 1944, a full fledged Revenue Division was created
under the Ministry of Finance. After independence, this arrangement continued
upto 31st August, 1960 when on the recommendations of the Administrative
Re-organization Committee, CBR was made an attached department of the
Ministry of Finance. In 1974, further changes were made to streamline the
organization and its functions. Consequently, the post of Chairman CBR, was
created with the status of ex-officio Additional Secretary and Secretary Finance
was relieved of his duties as ex-officio Chairman of the Board.
• HISTORY OF FBR:
On July 15 2006, the government has decided to convert the
Central Board of Revenue (CBR) into an independent entity as
'Federal Board of Revenue' (FBR), enhancing its financial and
operational autonomy for smooth functioning, with additional
powers to take decisions on taxation/reforms related matters,
and to authorize it to demand taxpayer's related information
from any department/bank/financial institution/housing
society to maintain a 'national database'.
The CBR has drafted 'Federal Board of Revenue (FBR) Act, 2006' which would
repeal the 'Central Board of Revenue (CBR) Act, 1924'. The FBR would have
provisions to override any other government law.
The 'FBR Act' would set up an 'Advisory Board' comprising Minister of Finance or
Advisor to Prime Minister on Finance and Revenue; Chairman CBR and three
other members from the public/private sector. The 'Advisory Board' would be a
supervisory body to monitor the functioning of 'FBR' and independently make
annual budget allocations.
3. The 'Board' will take decisions with minimum interference from the Ministry of
Finance.
4. It will meet human resource management (HRM) requirements needed for the
reformed units.
6. The 'FBR' will meet the requirements of CBR's vision and mission to make it a
modern tax-friendly organization.
10. The 'Federal Board of Revenue Act, 2006' will have provisions to override all
other government laws.
The
'Federal Board of Revenue' would create database to ensure proper charge, levy and
imposition of taxes, duties, fee, additional tax and surcharges to achieve fair
distribution of burden of taxes. The information collected in the database would be
kept confidential and would not be disclosed except for purposes authorized by or
under any law.
The 'Board' would have the powers to implement through administrative, legislative
or enforcement measures international commitments and obligations on the
Government of Pakistan under bilateral treaties, multilateral treaties, applicable
resolutions of international organizations, proposal of professional bodies etc. It
would comply with international regulatory frameworks, safety measures etc as
recommended by international bodies.
According to the draft 'FBR Act 2006', the CBR would continue to operate, without
interruption, as 'Federal Board of Revenue' and regulate fiscal, investment and policy
matters; administration management, imposition and collection of Federal taxes,
duties, levies, on national level and for connected or ancillary matters.
The 'Board' may in consultation with the Advisory Board, calculate taxes and
duties, adopt streams of taxes and duties and/or make it identifiable as inland
revenue and customs duties, or internal taxes and duties. It will identify
matters to make policy decisions and may also make recommendations
regarding policy to the federal government for its consideration.
The 'Board' may adopt best international practices followed in other countries
for improving collecting of duties/taxes.
BUDGET ALLOCATION:
The Ministry of Finance will provide budget
for revenue and/or current expenditure and
lump sum funds, based on the requirement of
the 'Board' to achieve its goals and targets. The
'Board' shall frame financial rules and
implement the same on approval of the
Finance Division.
ANNUAL REPORT:
Within 90 days before the end of each fiscal year, the 'Board' shall
prepare a report on its activities including investigations/inquiries and
release it to the general public. The 'Board' shall, within 120 days
before the end of each financial year, send the statement of accounts
and its annual report to the Parliament.
The management of such companies will be with the serving or retired members
or officers of the 'Board'.
The CEO will be appointed from senior serving or retired officer with suitable
qualification. The company will have principal office at Islamabad and branch
office at Karachi. A committee of the members of the 'Board' shall supervise the
functions of such companies.
The fund will meet medical, transport and education and other welfare expenses,
and also arrange recreational activities for the officers, employees and their
families.
REPRESENTATION BY PUBLIC:
Any person, organization or entity may make a representation to the
'Board' to point out any anomaly, tariff discrepancy, interpretation
etc under relevant legislation. They may make a representation
against any hardship or delay relating to the tax matters.
The 'Chairman' shall have the powers to issue orders keeping in view the
taxpayer's grievances.
RULES AND REGULATIONS:
The Federal Government may, by notification in the official Gazette, make rules
for all or any of the matters in respect of which it is required
to make rules to carry out the purposes of the 'FBR Act
2006'. It will be empowered to make rules in the matters
relating to the imposition and levy of taxes, duties, and
procedures.