Streamlining expenditure: Revenue authority in the works for K-P
The bill states the authority would be a corporate body, having perpetual succession.
The bill states the authority would be a corporate body, having perpetual succession. PHOTO: FILE
PESHAWAR:
The Khyber-Pakhtunkhwa (K-P) Finance Act 2013 tabled in the provincial assembly on Monday envisages the establishment of a K-P Revenue Authority in order to streamline revenue collection.
The bill states the authority would be a corporate body, having perpetual succession. It would have the authority to enter into agreements, acquire, hold, manage and dispose of property among other powers.
A director general (DG) will head the revenue authority. The DG will
be appointed for a period of three years and will be eligible for reappointment for another term. However, he cannot be appointed for a third consecutive term.
The revenue authority’s powers and functions entail the administration and collection of sales tax on services; collection of other taxes, duties, levies assigned under federal law; implementation of tax administrative reforms with approval of the government; and promotion of voluntary tax compliance.
It will also be responsible for: the adoption of effective modern tax administration methods; organising the registration of taxpayers; widening the tax base; and making departmental remedies more efficient.
The authority may impose any fee, levy, cess or surcharge with the approval of the government. In addition, it will also have a policy making council with the chief minister as its chairman and comprising finance minister, excise and taxation minister, chief secretary, secretary finance, secretary law, and secretary excise and taxation along with a maximum of four private members nominated by the government.
Published in The Express Tribune, June 18th, 2013.
The Khyber-Pakhtunkhwa (K-P) Finance Act 2013 tabled in the provincial assembly on Monday envisages the establishment of a K-P Revenue Authority in order to streamline revenue collection.
The bill states the authority would be a corporate body, having perpetual succession. It would have the authority to enter into agreements, acquire, hold, manage and dispose of property among other powers.
A director general (DG) will head the revenue authority. The DG will
be appointed for a period of three years and will be eligible for reappointment for another term. However, he cannot be appointed for a third consecutive term.
The revenue authority’s powers and functions entail the administration and collection of sales tax on services; collection of other taxes, duties, levies assigned under federal law; implementation of tax administrative reforms with approval of the government; and promotion of voluntary tax compliance.
It will also be responsible for: the adoption of effective modern tax administration methods; organising the registration of taxpayers; widening the tax base; and making departmental remedies more efficient.
The authority may impose any fee, levy, cess or surcharge with the approval of the government. In addition, it will also have a policy making council with the chief minister as its chairman and comprising finance minister, excise and taxation minister, chief secretary, secretary finance, secretary law, and secretary excise and taxation along with a maximum of four private members nominated by the government.
Published in The Express Tribune, June 18th, 2013.