ISLAMABAD, March 28: The Central Board of Revenue (CBR) has shifted ‘Range 5’ Rawalpindi Branch to Islamabad to meet the demands of firms based in the federal capital.

This was announced by Wakil Ahmed Khan, member income tax of CBR, while talking to a delegation of Islamabad Chamber of Commerce & Industry (ICCI) on Friday. The delegation was led by chamber president Mian Akram Farid.

The member income tax said ‘Range 5’ Rawalpindi branch was dealing with maximum number of firms based in Islamabad, and people were facing problems. Therefore, the CBR decided to shift this branch to Islamabad in response to business community’s requests. He said the departments concerned of the CBR had been directed to allow the exemption of income tax to all those firms which paid tax for one year.

Mr Khan also agreed to fix the GP rate of steel industry and asked ICCI to form a committee to formulate suggestions i this regard.