CBR is the highest authority of tax in Pakistan. It means Central Board of Revenue. It enjoys several powers and performs certain functions. Some of its functions and powers are given below.
CBR can grant exemption from tax to any undertaking and it can make rules to grant exemptions for such undertakings.
It can make different rules and regulations for the collection of the tax.
It also announces the rules for the taxpayer who is in default that how to recover tax from the defaulter.
It can give the certification to any institute as conduction research in Pakistan.
It can also give approval to leasing companies.
It can issue different circulars and guidelines for the taxpayers and officers of CBR.
It should also exercise general administration of the tax under the Income Tax Ordinance 2001 that was approved by government of Pakistan.
It has the right to appoint income tax authorities.
It can determine the jurisdiction of different income tax authorities.
I think it is enough for creating a good understanding. And from these points you can easily understand the functions and powers of Central Board of Revenue of Pakistan. I hope, it is very clear to you and you've got it.
CBR can grant exemption from tax to any undertaking and it can make rules to grant exemptions for such undertakings.
It can make different rules and regulations for the collection of the tax.
It also announces the rules for the taxpayer who is in default that how to recover tax from the defaulter.
It can give the certification to any institute as conduction research in Pakistan.
It can also give approval to leasing companies.
It can issue different circulars and guidelines for the taxpayers and officers of CBR.
It should also exercise general administration of the tax under the Income Tax Ordinance 2001 that was approved by government of Pakistan.
It has the right to appoint income tax authorities.
It can determine the jurisdiction of different income tax authorities.
I think it is enough for creating a good understanding. And from these points you can easily understand the functions and powers of Central Board of Revenue of Pakistan. I hope, it is very clear to you and you've got it.
