ISLAMABAD, April 1: Central Board of Revenue Chairman M. Abdullah Yousuf on Friday admitted that the existing cumbersome and lengthy taxation procedures were creating hurdles in the way of foreign and local investment in the country. e was speaking at the 80th “Yaum-i-Tasees” of the CBR here on Friday. The CBR was established on April 1, 1924. The function was attended by a large number of tax officials and officers.

Mr Yousuf said the cumbersome and lengthy procedures caused delay in the clearance of goods at ports that subsequently hit exports of the country. He said to cope with this and all other drawbacks in the existing set-up of the CBR, the government would spend around Rs9 billion to reform the process/function and simplify the procedures and taxation laws.

The CBR chairman expressed the hope that the tax administration reforms, which were expected to be completed in the next four to five years, would promote trade, investment and export.

He pointed out that the focus of the reforms would be on improving the skills of employees of the tax administration. “Without a positive role of the CBR, no success could be materialized in facilitating trade, attracting investment and providing facilities to taxpayers.”

“We would have to provide an environment conducive for foreign investment in the country,” Mr Yousuf maintained.

Tax policy and reforms member M.S. Lal said that during the reform process of the tax administration, there would be no rightsizing. But he said that surplus staff would be shifted other departments.

Mr Lal said that an attempt was made in 1998 for giving autonomy to the CBR, which did not materialize as yet. He said the salary of tax employees would be doubled within the next two to three years.

The CBR chairman on the occasion distributed certificates of distinction among around 74 lower grade CBR employees for their excellent performance. Mr Yousuf also announced a cash award of Rs5,000 each for these employees.