Shaikh advises FBR to make asset declaration scheme ‘more effective’

ISLAMABAD: Adviser to the Prime Minister on Finance, Dr Abdul Hafeez Shaikh, on Tuesday advised the Federal Board of Revenue (FBR) to make the upcoming assets declaration scheme “more effective and simple” so more and more people can enter the scope of taxation, said an official press release.

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Shaikh, while presiding the asset declaration scheme 2019 meeting, issued the instructions to “deliberate various aspects of the scheme”.

Participants of the meeting “emphasized the need to make the scheme more simple and implementable” while suggesting that since the focus of the proposed scheme is on the documentation of economy, it should be designed to clearly reflect that objective”.

Shaikh ordered FBR to “devise a successful communication strategy enabling the people to easily comprehend the contours of the scheme.”

The press release further stated, “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.”

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, Chairman FBR, and other experts of business, accounting and banking sectors were in attendance during the meeting.

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