Capacity building: FBR sets up transfer pricing unit
The Federal Board of Revenue (FBR) has constituted a transfer pricing unit to enhance the capacity of the tax officials to effectively deal with the transfer pricing related issues.
According to a notification issued by the FBR here on Monday, a transfer pricing unit is set up at the FBR that will work towards establishing a strong transfer pricing regime by providing technical backstopping to field offices and building their capacity, developing a resource base including database of comparables, proposing improvements in law and policy and establishing a regime where transfer pricing adjustments are given due importance during proceedings.
Sources said that the unit will be headed by Malik Amjed Zubair Tiwana, Chief (Income Tax Policy-II), a seasoned tax official engaged in the tax policy of the country. Transfer pricing unit will be supervised by Dr Muhammad Iqbal, Special Assistant to Chairman, FBR. Both Malik Amjed Zubair Tiwana and Dr Muhammad Iqbal are top income tax officials having highly professional background with experience of policy, global taxation, drafting of tax laws and enforcement.
The constitution of the Transfer pricing Unit will be as follows: Malik Amjed Zubair Tiwana, Chief (ITP-II), Head of the Unit; Muhammad Khalid Jamil, Secretary; Dr Tariq Masood, Chief (ITP-I), FBR (HQ); Girdhari Mal, Addl CIR, LTU, Karachi; Zia Agro, Addl CIR, LTU, Karachi; Abdul Jawwad, Addl CIR, LTU, Lahore and Muhallad Ali, DCIR, LTU, Islamabad, sources added.
