AIRLINK 191.54 Decreased By ▼ -21.28 (-10%)
BOP 10.23 Decreased By ▼ -0.02 (-0.2%)
CNERGY 6.69 Decreased By ▼ -0.31 (-4.43%)
FCCL 33.02 Decreased By ▼ -0.45 (-1.34%)
FFL 16.60 Decreased By ▼ -1.04 (-5.9%)
FLYNG 22.45 Increased By ▲ 0.63 (2.89%)
HUBC 126.60 Decreased By ▼ -2.51 (-1.94%)
HUMNL 13.83 Decreased By ▼ -0.03 (-0.22%)
KEL 4.79 Decreased By ▼ -0.07 (-1.44%)
KOSM 6.35 Decreased By ▼ -0.58 (-8.37%)
MLCF 42.10 Decreased By ▼ -1.53 (-3.51%)
OGDC 213.01 Increased By ▲ 0.06 (0.03%)
PACE 7.05 Decreased By ▼ -0.17 (-2.35%)
PAEL 40.30 Decreased By ▼ -0.87 (-2.11%)
PIAHCLA 16.85 Increased By ▲ 0.02 (0.12%)
PIBTL 8.25 Decreased By ▼ -0.38 (-4.4%)
POWER 8.85 Increased By ▲ 0.04 (0.45%)
PPL 182.89 Decreased By ▼ -0.14 (-0.08%)
PRL 38.10 Decreased By ▼ -1.53 (-3.86%)
PTC 23.90 Decreased By ▼ -0.83 (-3.36%)
SEARL 93.50 Decreased By ▼ -4.51 (-4.6%)
SILK 1.00 Decreased By ▼ -0.01 (-0.99%)
SSGC 39.85 Decreased By ▼ -1.88 (-4.51%)
SYM 18.44 Decreased By ▼ -0.42 (-2.23%)
TELE 8.66 Decreased By ▼ -0.34 (-3.78%)
TPLP 12.05 Decreased By ▼ -0.35 (-2.82%)
TRG 64.50 Decreased By ▼ -1.18 (-1.8%)
WAVESAPP 10.50 Decreased By ▼ -0.48 (-4.37%)
WTL 1.78 Decreased By ▼ -0.01 (-0.56%)
YOUW 3.96 Decreased By ▼ -0.07 (-1.74%)
BR100 11,697 Decreased By -168.8 (-1.42%)
BR30 35,252 Decreased By -445.3 (-1.25%)
KSE100 112,638 Decreased By -1510.2 (-1.32%)
KSE30 35,458 Decreased By -494 (-1.37%)

The Central Board of Revenue (CBR) has found little compliance on the part of taxpayers, who, it said, failed to provide proper information required for filing returns under the universal self-assessment scheme (USAS).
Briefing the local trade and business community at Directorate of Training here on Monday, CBR Member (Tax Facilitation) Habib Fakhruddin said that the USAS had been launched for the facilitation of taxpayers, and to curtail contact between taxpayers and the tax collectors.
He said that the tax department accepted the returns as filed during the last two years under USAS, without any questioning. But, Fakhruddin added when the comparison of tax returns filed during the last two years was done, it was noted that majority of taxpayers had not provided NTNs and NICs and even in some cases the names of taxpayers were found missing.
Similarly, during the assessment year 2003-04, besides corporate sector, salaried persons also filed incomplete returns, CBR Member said, adding that like past two years, the taxpayers also had to file returns under the USAS this year.
Mentioning the measures taken by the CBR to change the tax culture, Fakhruddin said that the government had acquired $150 million for restructuring of the tax department and this whole exercise was aimed at changing the old tax culture and facilitating the taxpayers to the maximum.
He said establishment of Large Taxpayers Units (LTUs), Medium Taxpayer Units (MTUs) and now RTOs was part of this reform and restructuring programme, meant for diminishing contact between taxpayers and collectors.
The CBR Member said that taxation laws are also being simplified. To various questions raised by the participants regarding taxing real estate business and issues relating to 'ON' in purchase of new cars, Fakhruddin said that levy on real estate was the provincial subject, therefore, CBR was unable to do anything in this regard.

Copyright Business Recorder, 2005

Comments

Comments are closed.