FBR directed to modify Asset Declaration Scheme to make it more attractive, persuasive

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ISLAMABAD, April 23 (APP):Adviser to Prime Minister on Finance, Revenue and Economic Affairs, Dr Abdul Hafeez Shaikh Tuesday directed the Federal Board of Revenue (FBR) to modify and refine the Asset Declaration Scheme to make it more attractive and persuasive.
This would enable to make those people part of it who currently are outside the formal economy, he said while chairing a meeting here to review the Asset Declaration Scheme.
He also directed the board to devise a successful communication strategy aimed at enabling the people to easily comprehend the contours of the scheme.
According to the finance ministry press statement, the meeting deliberated upon various aspects of the scheme and emphasized the need to make it more simple and implementable.
The participants gave their inputs and suggested that since the focus of proposed scheme was on documentation of economy, the scheme should be designed to clearly reflect that objective.
It may be recalled that the federal cabinet had directed the FBR to carry out consultations with experts of various sectors to make the scheme more inclusive and to reduce its complications.
The meeting was also attended by Adviser to Prime Minister on Commerce, Textile, Industry and Production and Investment, Abdul Razak Dawood, Adviser on Institutional Reforms and Austerity, Dr Ishrat Hussain, Minister of State for Revenue, Muhammad Hammad Azhar, FBR chairman and experts of business, accounting and banking sectors.