FBR to enhance cooperation with US on finance, revenue

• He was talking to a delegation of the US Embassy
• The chairman highlighted the areas of cooperation
• Meeting was also attended by the Member Inland Revenue

ISLAMABAD: At the FBR headquarters, Special Assistant to Prime Minister (SAPM) on Revenue, Tariq Mahmood Pasha here on Friday appreciated the United Sates (US) engagement with Pakistan in the economic, financial and revenue areas and hoped the ongoing cooperation between the two countries will further strengthen.

He was talking to a delegation of the US Embassy in Islamabad, led by Commercial Counselor, Aaron Fishman and representatives of the multi-national beverage companies who visited Federal Board of Revenue (FBR). Chairman FBR, Asim Ahmad was also part of the meeting.

On the occasion, the FBR chairman highlighted the areas of cooperation between the USA and Pakistan in terms of trade and business facilitation.

The delegation also discussed the new tax provisions on the beverage industries and the SAPM (Revenue) and Chairman FBR assured the representatives of the companies that their genuine concerns will be addressed on priority.

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The meeting was also attended by the Member Inland Revenue – Policy and in the end FBR team thanked the visiting delegation.

On February 10, World Bank had appreciated Federal Board of Revenue for the pace of reforms for sales tax harmonization.

World Bank Regional Director Mr Mathew Verghis, had called on Chairman FBR Mr Asim Ahmad. He was accompanied by World Bank Country Director Mr Najy Benhassine and his team.

During the meeting, both sides had discussed various initiatives of the revenue board for revenue mobilization and sales tax collection.

They had also reviewed the progress of Pakistan Raises Revenue Program (PRRP) being implemented with financial assistance of the World Bank. Both sides had expressed satisfaction with the progress of the project.

The program is expected to contribute to a sustainable increase in domestic revenue by broadening the tax base.  The Regional Director in particular appreciated the progress made in harmonizing the Sales Tax.

Chairman Asim Ahmad had praised the efforts of the teams on both sides and expressed optimism that the program will further upgrade IT-based capacities of FBR for strengthening of tax administration.