ISLAMABAD – Federal Board of Revenue (FBR) on Wednesday brought majorchanges for granting powers to Inland Revenue Officers for effectivemonitoring of all kinds of units.
The government intends to collect additional Rs40 billion through thisindustry through the Finance Supplementary (Amendment) Bill 2018 forraising federal excise duty out of which Rs26 billion will be collectedthrough raise in tax rates and remaining Rs14 billion through effectiveenforcement.
For placing effective enforcement, now the FBR has plugged loopholes tocurb tax evasion.
The FBR has directed IR officers to carry out mandatory monitoring of GreenLeaf Threshing (GLT) units, whether working separately or as part of acigarette manufacturing unit.
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“Yes, this amendment in rules will help us to curb tax evasion ofcigarettes of all kinds of units,” FBR’s DG Inland Revenue EnforcementNetwork (IREN) Tanvir Malik said when The News contacted him for seekingcomments on issuance of latest SRO here on Wednesday.
