ISLAMABAD, Dec 1 (APP): Federal Minister for Finance and Revenue, Senator Mohammad Ishaq Dar here on Thursday constituted an independent eleven-member Reforms and Recourse Mobilization Commission (RRMC) for resource mobilization and for giving recommendations to finance minister on budget and tax-related issues and policies.
According to notification issued by the Federal Board of Revenue (FBR), the commission would be headed by a full-time chairman, who would be directly reporting to finance minister. The commission would interact with stakeholders and form sub-groups and evaluate their proposals for the federal budget.
Ashfaq Tola has been designated as Chairman of the commission whereas its members would include Asif Haroon, Haider Ali Pater, Abdul Qadir Memon, Dr. Veqar Ahmed, Saqib Sherazi, Ghaznafar Bilour, President FPCCI or his nominee, President Pakistan Tax Bar Association, Chairman FBR while Member (Reforms and Modernization) FBR has been made Secretary to the Commission.
Nisar Muhammad from Customs, Dr. Muhammad Iqbal from Income Tax and Abdul Hameed Memon from Sales Tax would be working with the commission as subject experts.
The RRMC would submit its first report by mid of April 2023, according to the notification.
The commission would make recommendations to review existing revenue policies, evaluate FBR data at macro level and identify initiatives, measures or policies for resource mobilization, ease of doing business and pro-economic growth.
It would identify issues, difficulties, snags or risks of the existing tax system and recommend remedial measures. The commission would also review the budget proposals, evaluate their consequences on business and advice finance minister on practical aspects of budget proposals.
It would also review the proposed amendments in finance bill and make recommendation; review complexities of legislation and recommend simplification, suggest action plan to curb the parallel economy and to make recommendations for increasing financial inclusion.
It would also review and recommended a robust IT system on modern lines and make recommendations for minimizing taxpayer/tax collector interaction and maximizing trust between FBR and taxpayer, besides making recommendation on harmonization of GST between federation and provinces.
The commission may co-opt any other person with the prior approval of the finance minister and may avail services of any expert (s) on need basis.
It will have a full-time secretariat at FBR (HQs) and the board would provide logistic and HR support to the commission. It may take decision by majority vote of all members.