CBR consultants proposals not to be part of budget

ISLAMABAD (May 28 2003) : The government would not incorporate any proposal of Central Board of Revenue (CBR) consultants, Maxwell Stamps, in 2003-04 budget, officials engaged in finalisation of budget told Business Recorder here on Tuesday.

The consultants from UK are engaged in devising mechanism to revamp tax administration, which is not directly linked to revenue measures in the coming budget.

Sources said that the tax experts have been hired to advise on 'tax reform strategy' to be adopted for expansion of the base in the long run.

“The CBR has asked Maxwell Stamps to confine themselves to administrative reforms programme,” they added.

The consultants have submitted a number of suggestions pertaining to amendments in the Sales Tax Act, 1990 and other tax laws.

The tax experts recently set over 70 macro and micro level performance indicators to improve the overall performance of tax machinery.

Macro level performance indicators include achievement of revenue targets, increased amount of additional tax and penalties, increased percentage of delinquent tax collection, reduced number of appeals in the Income Tax Appellate Tribunals, increased number of notices issued to the taxpayers and speedy payment of refund.

Some other macro level indicators include reduction in number of days for complete audit, integrity of tax officials, appropriate salaries and compensation system, professionalism of CBR employees, increase in number of IT professionals, quality audit and other indicators relating to various wings of CBR.

Micro level functional performance indicators encompass implementation of single taxpayer identification number and streamlined registration process, increasing number of registration and reduction in average number of days to complete registration, simplification of tax forms and instructions, development of a system for electronic tax declaration and full self-assessment.

Related Articles

Back to top button
Stay up to date
Don't miss out on the latest industry news and articles
Stay up to date
Don't miss out on the latest industry news and articles
You are Subscribed!
Your subscriptions means a lot to us.
Don't miss out on the latest Industry news
You are Subscribed!