Newly-appointed FBR chairman bars officials from freezing account of any company
The business community said that decision would boost confidence
ISLAMABAD (Dunya News) – Federal Board of Revenue (FBR) chairman Shabbar Zaidi on Friday barred the Board from freezing the account of any company without his approval.
While giving orders on the first day after assuming office, Shabbar Zaidi said that the FBR cannot freeze the account of any company, adding that his approval would be necessary before freezing any account.
The FBR chairman went on to say that the company officials would be informed 24-hours before freezing the account.
The business community while applauding the FBR chairman’s decision said that the decision would increase confidence among the industrialists.
Talking to media, Zaidi said that the authorities would be transferred to all the officers, adding that his approval would not be necessary in every decision.
The newly appointed FBR Chairman also addressed the officers of FBR soon after taking charge and shared his vision to revamp the Tax system and Tax machinery and discussed broader problem areas affecting the institution.
He stressed the need to shift from manual to complete automated system to facilitate the taxpayers.
Zaidi also emphasized the need to document all the economic transactions which could be great source of revenue generation for the country.
The FBR Chairman took the officers into confidence and assured that the issues being confronted by the FBR employees would be addressed under his leadership.
He sought the support of all the officers to work as a team for the betterment of the institution and country.
Zaidi also thanked Prime Minister Imran Khan for reposing trust in him and pledged to bring improvement in the working and performance of FBR as per expectations of the prime minister.
The FBR officers asked questions which were answered by the new Chairman in a very candid manner. The Chairman hoped to have regular interactions with the FBR officers in future.
Earlier, he said that he will try to bring those persons in tax net that are currently giving zero tax to government. He said taxpayers will not be given trouble.
Zaidi said FBR staff is hardworking, adding that he will try to move with same staff.
FBR chairman said that delivery speed has to be fast and new reforms have to be introduced in the department. He said there was need to make a database for those transactions which have no records available.
He said in current system outer transactions cannot come into the system adding that automatic tax system need to be introduced through automation of economic transactions.
Syed Shabbar Zaidi is a Pakistani chartered accountant and former caretaker Provincial Minister of Sindh, who served in 2013 caretaker ministry. He is also a senior partner in A. F. Ferguson & Co., a member firm of PwC.
He is mainly known for his extensive contribution towards development of taxation and fiscal laws of the country.
Syed Shabbar Zaidi has also authored many books, including Panama Leaks – A Blessing in Disguise – Offshore Assets of Pakistani Citizens, A Journey for Clarity and Pakistan: Not a Failed State.
