FBR gets stay against FTO decision
Blocks move to investigate low tax recovery in offshore asset cases
TRIBUNE CREATIVE
ISLAMABAD:
The Federal Board of Revenue (FBR) has obtained stay orders against the Federal Tax Ombudsman’s (FTO) decision to inspect offices dealing with offshore tax haven cases, blocking a move that could have unearthed reasons behind poor recovery of $22 million against $1.3 billion worth cases.
It is rare that a government department has gone in the courts against a constitutional office that is responsible to check corrupt practices in the tax machinery. The matter appears serious as stay orders have been obtained to block the move to scrutinise offshore tax havens related record, shared by Europe-based Organization for Economic Cooperation and Development (OECD) with Pakistan.
The proposed policy will emphasise on expansion of tax base through identification of new taxpayers, gradual removal of exemptions and concessionary provisions and reduction in tax rates. Dawn/File
ISLAMABAD: The government has constituted two committees to prepare a comprehensive plan by the end of current month for expansion of tax base through identification of new taxpayers.
The committees [will work] on broadening of tax base and incentivising consumers through a system of prizes on sales tax receipts by the end of July, Special Assistant to the Prime Minister (SAPM) on Finance and Revenue Dr Waqar Masood Khan told
Dawn on Saturday.
• 4m households to be supported
• Minister says around Rs400bn worth of interest-free loans to be offered
ISLAMABAD: The government has decided in principle to launch ‘Kamyab Pakistan Programme’ this month under which four million households would be assisted in various schemes.
The programme appears to be one of the major initiatives taken by the government for the poor segment of society ahead of next elections.
Talking to
Dawn on Saturday, Finance Minister Shaukat Tarin said: “We have finalised every aspect of this programme, and it would be launched in mid-July.”
Detailing some of the features of the programme, he said it aimed at providing support to people in housing projects, skill development, health cards and interest-free loans for businesses and agri-services.
• 4m households to be supported
• Minister says around Rs400bn worth of interest-free loans to be offered
ISLAMABAD: The government has decided in principle to launch ‘Kamyab Pakistan Programme’ this month under which four million households would be assisted in various schemes.
The programme appears to be one of the major initiatives taken by the government for the poor segment of society ahead of next elections.
Talking to
Dawn on Saturday, Finance Minister Shaukat Tarin said: “We have finalised every aspect of this programme, and it would be launched in mid-July.”
Detailing some of the features of the programme, he said it aimed at providing support to people in housing projects, skill development, health cards and interest-free loans for businesses and agri-services.
Finance minister calls for focus on long-term planning
Terms it vital for achieving sustainable, all-inclusive economic growth
ISLAMABAD:
Long-term planning is vital for achieving sustainable and all-inclusive economic growth, said Federal Minister for Finance and Revenue Shaukat Tarin.
Chairing the third meeting of the Economic Advisory Council (EAC) on Saturday, he highlighted that Prime Minister Imran Khan restored the body with an objective to draft concrete proposals for sustainable economic growth through comprehensive planning across major sectors of the economy. He added that all stakeholders would be taken on board prior to policy approvals.
“The underlying rationale is to secure the future of coming generations of Pakistan,” Tarin added.