Govt 'determined' to facilitate taxpayers

ISLAMABAD - FBR Chairman Sohail Ahmad said on Friday the government is determined to facilitate and provide conducive environment to taxpayers for paying their due taxes without any harassment under Self-Assessment Scheme. He was addressing the inaugurating ceremony of Computer-based selection of taxpayers for audit here at FBR headquarter. Representatives nominated by chambers, trade associations, tax bar association attended the ceremony. He said draft bill of Value Added Tax draft would be presented in the Parliament for its approval by the end of December. Talking about the IMF loan, he said approval would be accorded to third tranche of IMF loan in the meeting of board of directors during the current month. He added it is hoped this tranche would be disbursed to in time. He said a total number of 42,148 companies are registered for income tax and 9,871 companies have been included in todays draw, which are registered both for Income and sales taxes. He said 146,594 associations of persons are registered in income tax. Following the same pattern of composite audit, 9,034 AOPs paying both income tax and sales tax are included for 5 percent computerised selection of audit. The Chairman FBR said that the audit process was initiated after six to seven years and it would keep the transparency in the process. Int'l Institute of Charter Accounts of Pakistan has been given the task to hire the companies for audit in a transparent manner. He added. The audit process, he said, would be based on random balloting and efforts are made to make the system more transparent which will also help in realising the taxpayers of their duty of paying taxes. Sohail said that the reforms process had been continuing in the Board for the last six years, which was also appreciated by the foreign institutions and agencies. Member FBR Anis Ahmad said that tax to GDP ratio in Pakistan had consistently been less than 10pc. It was resulting in shortfall in revenue collection, growing revenue-expenditure gap and deficit financing, he said. He said FBR has decided to re-activate the role of audit in its efforts to increase the tax to GDP ratio by ensuring compliance of laws.

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