April 16, 2008	Wednesday	Rabi-us-Sani 9, 1429

HYDERABAD, April 15: Federal Board of Revenue (FBR) Chairman Mohammad Abdullah Yousuf said that the board and traders were partners and with the increase in business activities the share of FBR will automatically increase and it will get more taxes.

He was talking to businessmen at the secretariat of the Hydera-bad Chamber of Commerce and Industry here on Monday.

He said in furtherance of this objective, self-assessment scheme had been introduced under which income taxpayers would file their returns only once a year.

An economic database had been prepared and those who were not paying taxes would have to contribute their share for the development of social sector, specially health and education, Mr Abdullah said. He said that FBR was making efforts to further simplify the taxation system.

He said some reforms have already been introduced while many others were on the anvil.

He said two million people out of a total population of 160 million were paying taxes.

He agreed with a proposal that there should be less tax on raw materials and more concession should be given to the small and medium enterprises.