Central Board of Revenue edit extracted from Wikipedia, the Free Encyclopedia (using Wikipedia Reflection Script)

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The Federal Board of Revenue (famously known as CBR) is a federal department of Pakistan that is responsible for collecting revenue for the government of Pakistan¹. Ahmad Waqar is the current chairman of the board, he took his oath on July 24, 2008.

History

The Central Board of Revenue (FBR) was created on April 01, 1924 through enactment of the Central Board of Revenue Act, 1924. In 1944, a full-fledged Revenue Division was created under the Ministry of Finance. After independence, this arrangement continued up to 31st August 1960 when on the recommendations of the Administrative Re-organization Committee, FBR was made an attached department of the Ministry of Finance. In 1974, further changes were made to streamline the organization and its functions. Consequently, the post of Chairman FBR was created with the status of ex-officio Additional Secretary and Secretary Finance was relieved of his duties as ex-officio Chairman of the FBR.
     In order to remove impediments in the exercise of administrative powers of a Secretary to the Government and effective formulation and implementation of fiscal policy measures, the status of FBR as a Revenue Division was restored under the Ministry of Finance on October 22, 1991. However, the Revenue Division was abolished in January 1995, and FBR reverted back to the pre-1991 position. The Revenue Division continues to exist since from December 01, 1998. By the enactment of FBR Act 2007 in July 2007 the Central Board of Revenue has now become Federal Board of Revenue.

Notable Former Chairmans

First Ex-Officio Chairman of FBR was Sir Victor Turner from August 14, 1947 to February 01, 1950. Ghulam Ishaq Khan also who later became the president of Pakistan served as the board chairman from May 31, 1966 to September 08, 1970.

Tax Collection Trend

This is a chart of trend of taxes collected by the Central Board of Revenue of Pakistan with figures in millions of Pakistani Rupees.[1]

Since the mid-1990s, Sales Tax has grown dramatically in significance to the exchequer while Excise collection has stagnated.

See Also

References