ISLAMABAD: The federal government has fulfilled another condition set by the International Monetary Fund (IMF) by curtailing the powers of the Federal Board of Revenue (FBR) and activating the long-awaited Tax Policy Office under the Ministry of Finance.
Under the revised framework, the FBR will now focus exclusively on tax collection, while all responsibilities related to tax policy formulation have been shifted to the newly established Tax Policy Office.
According to official sources, Dr. Najeeb Ahmed Memon has been appointed as head of the Tax Policy Office for two years. Other key appointments include Naeem Hassan as Director of Business Taxation, Fida Muhammad as Director of International Taxation, Muneer Ahmed as Director of Direct and Indirect Taxation, and Ijaz Hussain as Director of Personal Taxation.
All officers have been appointed under a special professional pay scale. Sources added that the Tax Policy Office is expected to become fully operational next week, after which the formulation of detailed rules and regulations will begin.
