ISLAMABAD, June 20: Chairman Central Board of Revenue (CBR) M. Abdullah Yusuf says the government has taken bold steps to meet the demands of industry and private sector by trying to simplify procedures
, removing irritants and rationalizing taxation system.
Small and medium enterprises, which were under a tremendous procedural pressure, would now take a sigh of relief, he added. He was speaking at a seminar on "Pakistan Budget 2004-05", organized by ICMAP (Institute of Cost and Management Accountants of Pakistan), ICAP (Institute of Chartered Accountants of Pakistan) and RIBTA (Rawalpindi-Islamabad Tax Bar Association) here on Saturday evening.
Mr Yusuf said the government was very keen to accelerate the pace of economic development and hoped that the changes being introduced in sales tax, income tax, customs duties and central excise duties would go a long way in contributing to the progress and prosperity of the country.
Referring to various steps taken by the CBR to reform the tax system, which include automation and introduction of computerized system in customs, Mr Yusuf hoped that if implemented successfully it would be a great leap forward. The old system, procedures and mindset have to be changed, he added.
In reply to various questions, he said it was the right of the government to select the cases for audit on a random basis under USAS without disclosing parameters of the audit to tax payers.
The CBR will pre-test audit selection criteria across the country to ensure transparency. It will, however, publicize the names of all those who will be selected for the audit so that tax payers should not be harassed. Dr A.R. Kemal, Masood Ali Naqvi, Shabbar Zaidi and Hafiz Mohammad Idrees also spoke.
