Tax managers agreed to speed up working on the analysis, particularly taking measures pertaining to tax administration and investment climate issues clearly defining revenue implications.
The meeting examined terms of reference of the task force and subsequently formulated suggestions for onward submission to the finance division.
Issues relating to revenue collection, major sectors contributing in revenue and tax laws were discussed in the meeting.
It referred to the recent board-in-council decision where analyses of cement and sugar sectors were identified for working out the revenue potential in the 2004-05.
The task force has been given mandate to formulate a policy framework for improving economic relationship with China, USA, European Union, Japan, Saarc countries and Gulf states.
It will identify major economic issues and formulate strategies for boosting trade with these countries.
The task force headed by the adviser to prime minister on finance and revenue has been constituted to take practicable decision on major economic issues for the socio-economic development of the country.
The task force has been permitted to cater to the macroeconomic stability (growth and investment strategy, fiscal policy, debt strategy, monetary policy, exchange rates and interest rates policies).
It will oversee regulatory reforms introduced by the government. To achieve policy impact and evaluation, it will also work on data monitoring, review of policies and revamping policies.