Tax revenues to be maximised: FBR chairman

ISLAMABAD: Newly notified FBR acting Chairman Dr Muhammad Irshad said on Wednesday that all-out efforts would be made to maximise tax revenues during the remaining period of the current fiscal year.

According to official announcement made by Finance Ministry on Wednesday night stating that upon the retirement of Federal Board of Revenue (FBR) Chairman Nisar Muhammad on Wednesday, the finance minister assigned Dr Muhammad Irshad, Member (Operations-Inland Revenue) to look after the work of FBR chairman till the appointment of a regular chairman.

Incumbent Chairman, Nisar Muhammad has retired on reaching the age of superannuation. Dr Muhammad Irshad is a BS-22 officer of the Inland Revenue Service (IRS). He will look after the work of FBR chairman in addition to his own duties as Member, FBR. This would ensure smooth functioning of FBR in the interim period.

While talking to The News on Wednesday after assuming acting charge, Dr Irshad said that they would collect due taxes but would also facilitate the honest taxpayers. He said that he was thankful to the government for reposing confidence in him.

After reaching the age of superannuation, the outgoing FBR chairman Nisar Muhammad Khan retired from the service as he spent his last day in his office at the FBR’s headquarters.

In the existing setup, FBR chairman being the executive head of the Board as well as Secretary of the Revenue Division has the responsibility of (i) formulation and administration of fiscal policies, (ii) levy and collection of federal taxes and (iii) quasi-judicial function of hearing of appeals.

His responsibilities also involve interaction with the offices of the president, the prime minister, all economic ministries as well as trade and industry.