The government in general and the Central Board of Revenue (CBR) in particular embarked on a major reform initiative. This is both in the area of fiscal policy and tax administration, said CBR Chairman Abdullah Yousuf. He was addressing the Council and senior members during a visit to the Institute of Chartered Accountants of Pakistan (ICAP) at Clifton here. The CBR chief pointed out that as far as the fiscal policy is concerned certain steps have been taken and some others are being taken to ensure that the fiscal regime that we have in place is attractive and comfortable enough and provide facilitation and comfort to the tax-payers.
Regarding tax administration reforms, it is for the first time in the history of 'the CBR that $130 million has been committed by the World Bank, DFID and the government of Pakistan to provide the hack up support for such a reform spanning over a period of three to four years.
Abdullah Yousuf recalled that a pilot project was initiated in 2002 to prepare mostly for the major thrust, saying the first initiative was through the introduction of the concept of large tax payers unit in Karachi and a medium tax payers unit at Lahore in 2002.
This was followed by the Universal Tax Assessment Scheme which has gone reasonably well despite certain apprehensions. It has brought about the desired change in the mindset and in the way of doing business from a tax assessment-based system to a self-assessment-based system - a 180 degree turn, thereby almost eliminating the middleman - the income tax officer.
Consequently, this huge perception problem of inefficient and a corrupt organisation to a large extent as far as the Income Tax Department goes has been changed, the CBR chief remarked.
Regarding the past pending assessments, receivables and refunds and litigation, he pointed out: "We are trying to deal with these issues right now."
"What we would like to hope is that most of these history issues are behind us by the end of this financial year," the CBR chief said.
He also stressed the need for improving upon our quality of people and quality of service.
Abdullah Yousuf pointed out that the standard of the ICAP and the perception of the standard of this Institute has always been at a very high pedestal, saying: "We need to see as to how we cannot only keep it ICAP President Zafar Iqbal Sobani shed light on the activities and functioning of his organisation.
He pointed out that ICAP has adopted a new vision and mission and is to play a strategic role as self-regulatory organisation.
ICAP Vice-President Syed Asad Ali Shah also expressed his views on the occasion.
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