Establish a monitoring/tracking mechanism to review implementation progress of the recent reforms.National Board of Revenue to conduct periodic reviews and report to Ministry of Finance on the VAT refund status for coordinated reporting by DB Secretariat.
Implement new VAT Act to expedite VAT refund process.
Amend VAT Act to reduce number of VAT payments from monthly to quarterly.
Develop risk profile of businesses and make audits more efficient through the developed risk-management system.
Issue circular to reduce number of corporate tax audits based on the risk profile of a business.
Issue circular to mandate e-filing and e-payment of taxes for individuals and businesses by fully operationalizing its existing online system.
Actions to Take in 24 Months
Introduce a single interface for all taxes.
Enact draft Direct Taxes Code (2013) to update and simplify direct taxes on personal and business income.