ISLAMABAD – The Federal Board of Revenue (FBR) on Wednesday launched InlandRevenue Strategic Reform Plan (2021-25) for modernizing the institutions toenhance the efficiency.
Achieving yet another important milestone, FBR has launched Inland RevenueStrategic Reform Plan (2021-25) on April 20, 202 in a simple ceremony heldat Islamabad, said a press release issued by FBR here.
The launching ceremony was chaired by Chairman FBR, Dr. Muhammad AshfaqAhmed.The event was also attended by key officials of international donorsincluding World Bank, FCDO, IMF, Asian Development Bank, and seniorleadership of FBR.
While addressing on the occasion, the Chairman FBR remarked that the IRStrategic Reform Plan 2021-25 encapsulated FBR’s vision for the future.
The country’s premier revenue collection organisation aspires towardsbuilding a stronger and more modern institution, driven by the principlesof integrity, efficiency and effective service delivery,he added.He reiterated that the plan envisaged the transformation of Inland Revenueinto a world-class, technologically-savvy and taxpayer-centric service.
He thanked all the development partners for their much- needed support indeveloping this valued document and assued them of his fullest cooperationin implementing the same.
It is pertinent to mention that the Inland Revenue Strategic Reform Planclearly sets the reform agenda for the four-year period from 2021-22through to 2024-25.
The plan provides reform actions to improve tax administration in the 4strategic reform areas which include improving tax compliance,strengthening tax administration, building institutional capacity, andreinforcing legislative framework.
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Furthermore, the Inland Revenue plans to address the challenge of low taxcompliance through implementing a compliance risk management capability;improving registration, filing, payment and reporting compliance; reducingthe cost of compliance, strengthening the audit capability, streamliningprocesses, and procedures.
Needless to add that greater use of automation for better service deliveryand data-centric approach is a key reform area.
Leveraging existing data holdings and developing further data sources willallow the FBR to better identify compliance risks and allow the FBR todirect our resources to areas of highest risk.
Inland Revenue also endeavours to improve the skill set of its work forceand simplify and standardize the IR procedures by providing a common taxcode.
The IR Strategic Plan will be reviewed on an annual basis to ensure theprogramme is still a sustainable and viable reforms strategy.
The envisaged reforms have the potential to structurally improve theperformance of the tax system and make significant contribution to revenuemobilization.
