On Friday, the Federal Government has decided to appoint Asim Ahmed as the new chairman of the Federal Board of Revenue (FBR).
According to the details, sources said that the federal cabinet has given approval for his appointment. Asim Ahmed, who is from the Inland Revenue group, is currently serving as Member Information Technology (IT).
As per sources, Asim Ahmed will be replacing the incumbent head of the tax collecting body, Javed Ghani who is to retire on April 10.
This is the sixth time the PTI-led government is appointing the FBR chairman.
On the other hand, the new International Monetary Fund (IMF) report stated that FBR’s tax collection target for next fiscal year is projected to be nearly Rs6 trillion that the government will try to achieve by increasing rates of income and sales tax and withdrawing exemptions.
The tax burden of salaried class will mount and the cost of consumer goods will also go up due to withdrawal of sales tax exemptions with effect from July. According to the report, the target of petroleum levy is shown at Rs607 billion for fiscal year 2021-22.
Moreover, the report also stated that the government will also remove the Ninth Schedule to replace a specific tax rate for cell phones with the standard rate of 17%.