LAHORE, Aug 21: The World Bank will provide $200 million for restructuring of the Central Board of Revenue, bank’s private sector development specialist Aasiya Akhlaque said here on Thursday.

“The restructuring will help make the organization more efficient,” she said while addressing executive committee members of the Lahore Chamber of Commerce and Industry.

Dr S. Zia Al-Jalali, the World Bank’s social sector specialist, was also present on this occasion.

Ms Akhlaque said there should be minimum possible contact between the collector and the taxpayer.

She said the World Bank mission was visiting different chambers of commerce and industry and the business organizations to have feedback on the working of Large Taxpayer Unit (LTU), Karachi, and Medium Taxpayer Unit (MTU), Lahore.

She said the LTU and MTU were presently at the pilot stage and added that the businessmen would reap the benefits of these developments after some time.

Lahore Tax Bar Association former president Naeem Shah said there should be fair and a reasonable tax collection system. He said reforms in the taxation system had failed to yield required level of results.—APP

Our Staff Reporter adds:

Ms Akhlaque said the MTU was a pilot project and that was why World Bank was interested in getting timely feedback from those who were using it. “I admit there are problems. However, no problem can be rectified overnight as the change takes time. We are visiting businessmen so that we could get the views of the stakeholders on various policies,” she said.

LCCI President Yawar Irfan Khan said the establishment of Medium Taxpayer Unit in the city could prove beneficial only if it could ensure a hassle free tax assessment, filing of returns and completion of other requirements with minimum contact between taxpayers and tax collectors.

The business leaders were of the view that before the implementation of any project, stakeholders should be consulted as the taxpayers needed a fair and reasonable system.

“We don’t need another magnificent and well-furnished building for the tax collectors. What we need is a change in attitude of the officials as without this the system will not work properly,” they insisted.

MTU deputy commissioner Abdur Rehman said a comprehensive software had been developed by the CBR to tackle everything right from tax return filing to assessment and record of tax recovery.