Corporate sector assessees: Revenue Board compiling data to detect variation in income tax payments

ISLAMABAD (March 14 2003) : The Central Board of Revenue (CBR) is collecting information pertaining to income tax deposited by the entire corporate sector to detect variations in the income tax payments made during 2002-03 as compared with the corresponding period last year.

The CBR officials termed it a routine exercise for effective monitoring of the income tax assessees of the corporate sector.

However, the information would be instrumental in building a national database for the corporate sector and also pinpoint companies, which paid very less income tax during 2002-03 as compared to 2001-02.

The Regional Commissioners of Income Tax (RCITs) along with the Large Taxpayer Unit (LTU), Karachi, would jointly compile data of following corporate sector assessees:

Banking, Modaraba engaged in leasing business, life insurance, leasing companies, petroleum and petro products, sugar and allied products, cement, paper and board, textile, including spinning, weaving, composite, wooden and teak, synthetic and ray, steel melters, steel re-rollers, steel products, pharmaceutical, engineering, tobacco industry, chemicals and dyes, washing and toilet soap, leather, leather garments and related products, vegetable ghee and oil, automobiles and allied, electronics and electrical appliances, sanitary-ware and accessories, jute, fuel and energy, transport and communication, presumptive importers, exporters, contractors, shipping companies, airlines, advertising companies, travel agents, transport companies, stevedoring companies, tea companies, construction and buildings, government corporations, beverages, fertilisers, power companies, gas companies, tractors, glass and ceramics, biscuits and food items and hotels/restaurants.

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