ISLAMABAD, July 25: The Central Board of Revenue is set to impart special training in the relevant subjects to its fresh recruits in the top institutions of the country, aiming at to improve the efficiency of the tax administration.

This was discussed in the first meeting of the cabinet committee for federal revenue here on Thursday, chaired by Finance Minister Shaukat Aziz.

The meeting was told that the successful training would lead to a degree in the tax administration before formal induction into the revenue services. According to an official statement, the meeting discussed the proposed recruitment policy and compensation package of the CBR employees.

The committee also discussed the revenue collection for the fiscal year 2001-02 and issues regarding financial autonomy of the CBR.

It was noted that the fiscal 2001-02 was unusual as the economy experienced a number of internal and external shocks. The September-February 2001-02 period had been the most difficult period, and improvement both in terms of domestic production and external sector started from March onward, the statement said.

The CBR revenue performance, when analyzed within the macroeconomic perspective, the committee observed that it remained in line with the overall growth of the economy.

On the whole, the CBR’s net revenue collection during the year stood at Rs403.4 billion, showing around 3 per cent growth over the past year. When adjusted for additional refunds, this growth rated increased to 6.7 per cent, which was consistent with the overall growth of the economy.

The meeting was informed that direct taxes and sales tax remained the two most important revenue spinners during the fiscal 2001-02. The net collection of direct taxes increased by 14.4 per cent indicating its buoyant nature.

The meeting among others was attended by the minister for privatization, secretary general finance, deputy chairman of planning commission, secretary establishment and the CBR chairman.