The Central Board of Revenue (CBR) has started selection process of big multinational companies and corporate units to be operated under the Large Taxpayers Unit (LTU), Islamabad. The selection of cases would be made on the basis of annual turnover of companies and amount of tax paid by them.
The CBR is likely to include multinational, oil and gas companies and state enterprises within the jurisdiction of Islamabad LTU. Official sources told Business Recorder on Tuesday, member, direct taxes visited the Islamabad LTU site to review the progress. The CBR will soon convene a meeting of concerned contractor to expedite construction work at the LTU site.
Member, human resource management (HRM) has been given the task to rationalise manpower requirements for all re-engineered units, and in particular, to revise manpower requirement of the LTU. The HRM wing would also devise strategy to deal with surplus staff as a result of ongoing reform process. The medium taxpayers unit (MTU), Faisalabad would soon be completed, whereas, work at the MTU, Quetta has been stopped due to financial problems of the contractor.
Officials said, member, tax policy and reforms, has informed the board-in-council about proposed locations of tax facilitation centres (TFCs). These TFCs would be established in three phases.
In the first phase, TFCs would be set up in buildings owned by the CBR; however, separate buildings would be constructed for TFCs at later stage. It has been decided that member, tax policy and reforms, and member, direct taxes, would review locations of TFCs; whereas, member, customs will identify sites near border areas for setting up TFCs.
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