The Federal Board of Revenue (FBR) will finalize its resource mobilization strategy to meet the Rs1.952 trillion tax collection target for the current fiscal year at the Chief Commissioners Conference on July 26.
Chairman FBR Salman Siddique would chair the meeting while chief commissioners of Large Taxpayers Units (LTUs) and Regional Tax Offices (RTOs) will also attend the meeting. The senior tax officials would be given targets for broadening the tax base, keeping in view the target assigned by the government.
The Conference would review total arrears stock of income tax, sales tax and federal excise duty. It will also make recommendations for reduction in arrears stock of all taxes. Furthermore, the future status and collection mechanism of Federal Excise Duty on Franchises would be discussed in the conference.
The automation of tax machinery, Taxpayers Audit Management System would be reviewed and a plan would be made for the next fiscal year. An update on cleansing of the National Tax Number (NTN) Master index would be presented in the conference and a future action plan for task completion is also expected to be approved.
The Conference would review the performance of Centralized Registration Office (CRO) and each LTU and RTO keeping in view the information provided to them for broadening of tax base with certain deadline. The Conference is also expected to settle the issues of Human Resource Development, promotions, transfers and postings in LTUs and RTOs.
According to the agenda, the Chief Commissioners Conference will discuss in detail the amendments and new tax provisions introduced in tax laws through Finance Act 2011 and their implementation mechanisms would be sorted out for revenue realization. The broadening of tax base and netting new taxpayers especially with regards to direct taxes is expected to be as priority for fiscal year 2011-12. The Conference would review the tax collectors performance during the last fiscal year and a strategy for tax collection would be finalized for 2011-12. To bridge the gap between tax withheld and deposited in the national treasury proper application of provisions of tax laws would be assured and the conference would approve measures for strict monitoring of tax withholding agents. The Conference would also examine in detail the numbers of filers and non-filers of sales tax returns based on PRAL data disseminated by the FBR. Moreover, a strategy to deal with non-filers, short filers and nil filers would also be finalized for 2011-12.
