ISLAMABAD: The Caretaker federal cabinet on Tuesday okayed the revamp of the Federal Board of Revenue (FBR), ARY News reported.
Caretaker PM Anwaar-ul-Haq Kakar chaired a meeting of the federal cabinet in which recommendations of the Inter-Ministerial Committee were presented.
The cabinet okayed the summary regarding the restructuring of the FBR. According to the declaration of the federal cabinet Customs and In-Land Revenue will be two separate departments.
Both will be led by the director generals of the relevant cadres. Furthermore, the Federal Tax Policy Board will be constituted in the Revenue Division under the head of the finance minister.
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Federal secretaries for finance, revenue, and commerce and the chairman of NADRA will be the members of the board, which will decide about the tax policy and revenue target.
Furthermore, the federal cabinet also approved the digitalization of the FBR to bring transparency to the body.
Earlier, it was reported that the Special Investment Facilitation Council (SIFC) had approved the Finance Ministry summary regarding the restructuring of Federal Board of Revenue (FBR).