25 December 2004	Saturday	12 Ziqa'ad 1425

ISLAMABAD, Dec 24: The number of income tax returns have increased by 125,000 up to November this year against the target of 200,000 to be achieved by the end of 2005 as a part of the broadening of the tax base.

This was stated by Central Board of Revenue (CBR) Chairman M. Abdullah Yousuf while briefing Adviser to Prime Minister on Finance Dr Salman Shah. The adviser was informed that the number of new sales tax registrations during the first quarter were 3,176 against the target of 2,643 this year.

The CBR chairman said sales tax refund mechanism was being improved and converted into a fully automated system which would be operational by June 30, 2005.