KARACHI, Jan 14: The Central Board of Revenue (CBR) has set up a working group to undertake studies for the promotion of investment, trade sources said.

The group will also give recommendations on five specific areas: (i) identification of quantum of under- invoicing, specific items and remedial measures, (ii) identification of raw materials for minimum customs duty (iii), system of sales tax refunds and identification of the items for the levy of sales tax at enhanced rate, (iv) system of payment of duty drawback and (v) any other area identified by the working group, the sources said.

The Convener of the Group will be Shahzad Alam, and the group will have office in the Custom House, Lahore and it may hold meetings wherever necessary. Other members of the group will be Member Appellate Tribunal, Zafarul Majeed, Collector Gujranwala, Raza Baqir and Collector PQA, Afzal Bhatti.

A sub group and committees have also been formed and the sub committees will submit their recommendations by January 26, 2002. The first joint meeting of the working group and all sub- committees will be held in Custom House, Karachi on January 17.

There are four sub-committees — valuation committee, tariff committee, sales tax committee and export rebate committee.

Valuation Committee will be comprised convener, controller valuation, Karachi; collector of customs, appraisement, additional controller, Lahore, members from Lahore and Karachi Chambers. Controller Valuation will ask the Karachi and Lahore Chambers of Commerce and Industry to give information about under-invoiced items to evolve a positive list of under-invoiced items.

Tariff Committee, comprising convener, Yasin Tahir, senior joint secretary, Ministry of Industries, Joint Secretary, Imports, Commerce Ministry and Secretary Customs Budget, CBR, will identify raw materials for customs duty at zero per cent.

Sales Tax Committee, comprising convener, Akhtar Ali Naeem, Collector Sales Tax Lahore, Sohail Afzal, Collector Sales Tax (Karachi West) and members from Lahore and Karachi Chambers, will streamline the systems of sales tax refunds and identification of items for levy of sales tax at enhanced rate.

The objective of Export Rebate Committee will be to evolve an efficient system of payments of export rebates to industrial exporters.