ISLAMABAD, May 13: Central Board of Revenue chairman M Abdullah Yusuf on Saturday said that the government would announce budgetary measures for bringing in 20 per cent new taxpayers under the tax net during the next fiscal year.

Talking to reporters following speaking at a pre-budget seminar on “Strengthening Pakistan’s position as an emerging economic power”, organised by ACCA Pakistan, the CBR chairman said it was expected that the target of expanding tax net by 20 per cent by the end of current fiscal would be materialised.

Head of Policy Development ACCA Pakistan Dr Afra Sajjad presented the proposals of the association for consideration in the budget.

Answering a question, the chairman said that steps would also be taken to increase the tax-to-GDP ratio of the country, which was the lowest in the region.

Replying another query, he said that the salaried class would be facilitated by further simplifying the procedures of filing income tax returns from the next fiscal.

The chairman was of the opinion that audit was part of the universal self-assessment scheme but it would be introduced effectively with the establishment of the 12 to 14 regional tax offices from the next year.

He said that the Rs690 billion revenue target would be achieved easily.

Earlier speaking at the seminar, Mr Yusuf said that the government would announce measures in the upcoming budget to maintain the momentum of economic growth achieved during the last years. “We would try to consider exclusively those measures to give boost to the economy,” he added.

He said that the government would also consider to reducing the cost of doing business.

The chairman said that the issue of taxing the agriculture sector should be taken at an appropriate level. “This is required political commitment. We would raise this issue at any political forum”, the chairman added.

Mr Yousuf informed that the board was also considering a proposal of introducing single identification number in consultation with NADRA to further facilitate taxpayers.

The chairman said that the next budget would ensure facilities and incentives for attracting foreign investment and creating more fiscal space.

Answering a question, the chairman said that 0.1 per cent tax on cash withdrawal from banks was adjustable and it would not affect the genuine taxpayers.