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Updated on: Saturday, June 01, 2019, 11:30 AM IST

Govt panel for merging CBEC, CBDT into a single board

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NEW DELHI : A tax reform panel, appointed by the Congress-led United Progressive Alliance government, has suggested abolition of the post of revenue secretary and convergence of the two boards of direct and indirect taxes in next five years.

The Tax Administrative Reforms Commission (TARC), chaired by Parthasarathy Shome, submitted its report to Finance Minister Arun Jaitley on May 30. The report was made public on Monday.

“The two Boards (Central Board of Excise and Customs, and Central Board of Direct Taxes) must embark on selective convergences immediately to achieve better tax governance, and, in next five years, move towards a unified management structure with a common Board for both direct and indirect taxes, called the Central Board of Direct and Indirect Taxes,” the report said.

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The report said the post of revenue secretary should be abolished and the present functions of the revenue department should be allocated to the two boards.

The TARC has suggested the government to avoid retrospective amendment to tax laws as a principle, launch of a special drive to liquidate pending cases and aligning transfer pricing norms with best global practices.

“Both the Boards must immediately launch a special drive for review and liquidation of cases currently clogging the system…The review and liquidation should be completed within one year,” it said. TARC has also stressed the need to improve services to the taxpayers, treating them as stakeholders, and developing Permanent Account Number as a Common Business Identification Number. “The present permanent account number should be developed as a common business identification number (CBIN), to be used by other government departments also such as customs, central excise, service tax, DGFT (Directorate General of Foreign Trade) and EPFO (Employees’ Provident Fund Organization),” it said.

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The TARC also recommended spending a minimum 10% of the tax administration’s budget on improving taxpayers’ services. The commission suggested that central excise and service tax should be covered under a single registration as both the taxes are administered by the same department.    -Cogencis

sweeping reforms
l Retrospective tax amendments should be avoided
l PAN should be developed as common business ID number
l CBDT should come out with clear foreign tax credit norm
l Should align transfer pricing norm with global practices
l Refuting Pakistan Foreign Minister Shah Mehmood Qureshi’s
l Refuting Pakistan Foreign Minister Shah Mehmood Qureshi’s
l Refuting Pakistan Foreign Minister Shah Mehmood Qureshi’s

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Published on: Tuesday, June 17, 2014, 12:10 AM IST
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