ISLAMABAD: The Federal Board of Revenue (FBR) has decided to manage and display gifts received during official meetings, a statement said on Monday.
The Board in Council of the FBR in its meeting on January 01, 2022, discussed various agenda items and made some very important decisions.
READ MORE: Tax payment with return drops to Rs54 billion in FY21
For the first time ever in the organization’s history, the council unanimously agreed to establish Toshakhana under the relevant rules and guidelines of the Cabinet Division.
The council also discussed the existing rules regarding the acceptance and disposal of gifts.
After thorough deliberations, it was decided to notify procedures with regards to inventory management and display of the gifts received from dignitaries/guests during official meetings and visits.
READ MORE: Pak-Afghan 2nd round talks on DTA concludes
It was further decided that all officers of FBR would voluntarily declare and deposit gifts received by them. The minimum threshold for gifts has been determined to be Rs. 10,000 for FBR instead of Rs. 30,000, currently fixed for the other divisions of the Federal Government.
The only exception to these rules is applicable on shields and gifts that have an individual’s name engraved. It was also agreed that gifts so far declared will be disposed of as per applicable rules and regulations.
READ MORE: New rates of FED on local, imported motor vehicles
Furthermore, the BIC also approved the new nomenclature for FATE Wing which will now be known as Public Relations Wing.
Likewise, the two training directorates of Inland Revenue Service and Pakistan Customs, FBR have got their new names, IRS Academy and Pakistan Customs Academy, respectively.
READ MORE: Mini-budget: FBR to generate Rs4.5bn through tax rate increase on cellular services
