Tuesday, April 16, 2024

Cash Rewards Announced for the Whistleblowers by Federal Board of Revenue- FBR

The whistleblower or the informers that are registered with the FBR- Federal Board of Revenue would have been entitled as to the reward at a rate of the 20% as up to the maximum of Rs. 5 million from the evaded amount of the tax that is involved in just a single case.

On Friday the FBR issued these new rules of Inland Revenue Reward of the year, 2021 that is for Inland Revenue officers while including the “Informer,” or the “Whistleblower” who aren’t even the FBR’s employees.

FBR said that the information shall be provided by the informers or the whistleblowers as solid evidence that leads conclusively towards the detection for the tax avoidance, and the formulation of the assessment as well as reassessment; whereby also the eventual recovery of those evaded tax.

The recent notification that is issued by FBR stated that the new rules to consolidate reward systems have been issued and it is separately as from the continuous time and it is to set that in the place of uniform incentives authorities that are for the detection for the tax avoidance or evasion, the meritorious services along with any other extra-ordinary or outstanding type performance that is across the Inland Revenue of field formations, and detachments along with the headquarters.

Reward amount for an extraordinary or superb performance in like no case will be lesser than 12 and higher than 24 salaries in like every single case such as each of the officer or the staff member involved in the assigned task.

Detection as well as the assessment or recovery of the tax sought to be evaded; the meritorious services and an extraordinary type performance along with the specified sort of statutes.

Meritorious Services that includes the exceptional performances in any of the areas or in the a combination of the following areas were defined:

Displaying the exceptional results in recovery of arrears; exceeding the budgetary targets through an extra-ordinary planning and determined efforts; exceptional performance in the defending cases through the Departmental Representatives as before the ATIR; enlarging the base of the tax-payers by also adding a large number of taxpayers that are new and whose contribution towards the revenues would also be substantial; displaying an extraordinary devotion to the duty and the acumen towards making some of the original contribution.

Mehjabeen Qasim
Mehjabeen Qasimhttps://startuppakistan.com.pk/
Business Journalist at Startup Pakistan

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