Powers of the Board
IRBM is conferred the powers to enter into contracts on behalf of IRBM. It also has the power to utilise all property of the Board, movable and immovable, in such manner as the Board may think expedient including the raising of loans by mortgaging such property. As in any corporatised entity, it engages in any activity, either alone or in conjunction with other organisations or international agencies, to promote better understanding of taxation; and also provide technical advice or assistance, including training facilities, to tax authorities of other countries.
It has a right to impose fees or charges for services rendered. IRB itself although under the Ministry of Finance has power to grant loans to employees for any purpose specifically approved by the Board. It has a right to to do anything incidental to any of powers conferred by the Acts earlier mentioned that it has been entrusted to administer.