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<a href="http://www.accessmylibrary.com/coms2/summary_0286-22273642_ITM" title="Facts and information about NEW LAW TO CURTAIL POWERS OF PAKISTAN'S CENTRAL BOARD OF REVENUE.">NEW LAW TO CURTAIL POWERS OF PAKISTAN'S CENTRAL BOARD OF REVENUE.</a>
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NEW LAW TO CURTAIL POWERS OF PAKISTAN'S CENTRAL BOARD OF REVENUE.
ISLAMABAD, Feb 4 Asia Pulse - A new Income Tax Law in Pakistan will strip the Central Board Revenue (CBR) of its discretion to determine the gross profit rate of businessmen.
A system is being evolved for accepting maximum tax declarations as actual statements of profits earned by businesses, says CBR spokesman Vakil Ahmad Khan.
"Only where there is a patent discrepancy on the face of it" would be cases that would attract scrutiny by tax authorities, he said.
But such cases would be cut down by the self-assessment culture that is scheduled to be inculcated on the basis of provisions of Income Tax Ordinance, 2002.
...
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Source: HighBeam Research, NEW LAW TO CURTAIL POWERS OF PAKISTAN'S CENTRAL BOARD OF REVENUE.