'CBR to broaden tax base and document economy'

The Central Board of Revenue (CBR) has a determination and vision to broaden the tax base and to document the economy. This was stated by Abrar Ahmed, Regional Commissioner of Income Tax while speaking at a post-budget seminar organised by the Aga Khan Economic Planning Board for Pakistan (AKEPBP) at a local hotel on Sunday.
Abrar Ahmed said that the CBR is passing through a stage of transformation where the changes are visible to all. Today, the tax services have the vision and determination to facilitate the taxpayers. "It is our resolve to work to change the mindset of our workforce", he added.
It is with these facts in view that few amendments have been made which include (a) Section 153 (A) states: "The withholding agent are bound to deduct two percent more than the prescribed rates on payment for supplies, services and contracts in cases of persons who do not provide their National Tax Number of Computerised National Identity Card.
(b) Section 231 cash withdrawal from banks where cash withdrawals from and account exceeds Rs 25,000 in a single day then 0.2 percent adjustable tax shall be deducted by the banking company. (c) Two percent CVT has been imposed on transfer of properties of 500 sq. yards and above.
He said that CBR is open to reasoning. "We believe in fair government - business partnership", he said and added that some hardships which were pointed out have been taken care in this bill.
Syed Masoud Ali Naqvi, KPMG Taseer Hadi & Company in his speech said everyone is interpreting the same figures of the budget in different meaning, which shows that lack of trust in the society. He termed the 'trust deficit' is the biggest problem in the society.
He said the economy is growing despite the biggest earthquake tragedy in northern areas of the country. He said that the agriculture sector contribution remained low in the GDP growth, which is a very serious issue to be considered. "Pakistan is an agro-based country and more than 70 percent of the population is living in rural areas", he said and added, "we have to develop agro-based industry to eliminate poverty.
Syed M. Shabbar Zaidi, President, Institute of Chartered Accountants of Pakistan, Khaliq-ur-Rehman, Deputy Managing Partner, Anjum Asim Shahid Rehman Chartered Accountants, Munawar Shaban Kassim, Chairman, AKEPBP and Azad Lalani Honorary Secretary also spoke on this occasion.