February 24, 2007	Saturday	Safar 6, 1428

ISLAMABAD, Feb 23: Chairman Central Board of Revenue (CBR) and Secretary Revenue division, Abdullah Yousuf has said on that his organisation has devised a 10-year vision aimed to enhance the current tax-to-GDP-ratio from 9.2 per cent to 14.2 per cent.

Addressing a press conference here at the CBR House on Friday he said that the president and the prime minister held a meeting with the entire economic team here the other day in which the performance of the CBR and its reforms process and future plans were thoroughly discussed.

Mr. Yousuf pointed out that unless the tax machinery was not properly geared up, and tools of business, such as infrastructure are not provided, whether it is infrastructure or other-thing which it can not achieve the objectives successfully.

The chairman CBR said that his organisation had for the first time recommended a medium-to-long term strategy to the government to consider.

He said that under the strategy the Central Board of Revenue had set some projections for the next ten year tax-to-GDP ratio which will be increased from 9.2 per cent to 14.2 per cent.

Mr Yousuf said that this would also prove a historic change in the revenue base of the country.

He said that keeping in view of this situation this plan was forward-looking and progressive in achieving goals.

Replying to a question, he said that the president appreciated the performance and reforms process in the CBR, which would be completed by December 2009.

He said that the president stressed the need for achieving higher revenue collection by CBR for the socio-economic prosperity of the country.

The CBR chief said that the president also observed that all sectors of economy should contribute and share the revenues of the country and should come under the tax net.

The president, he said, also underlined that the fast track economic uplift of the country would require maximum revenues and CBR will have to speed up its efforts to achieve new targets through broadening of tax base.

He also directed the CBR to reduce burden of taxes on the lower income strata of the society, Mr. Yousuf added. He highlighted the reforms initiated by the CBR for the facilitation of the taxpayers and to broaden the tax regime.

He added that CBR's system had changed from assessment to self assessment and it’s up to the taxpayers to benefit form this facility.

He called upon the people to pay their due taxes and play their vital role in the economic development of the country.

— APP