ISLAMABAD-Chairman Federal Board of Revenue (FBR) Abdullah Yousaf has formally launched Investment Tax Scheme-2008 at Islamabad Chamber of Commerce and Industry (ICCI) on Monday. The President ICCI, Ijaz Abbasi, on the behalf of business community extended heartiest thanks for accepting the proposal to introduce Investment Tax Scheme, which would give momentum to economic activities of country. Chairman FBR, Abdullah Yousaf said that in the past immunity was given to formalise the informal assets on payment of 10% tax and urged that the people would benefit from this investment tax scheme by paying just 2% tax. He emphasised that no country could become a welfare state without commitment and cooperation of its taxpayers and said that present government is also taking different steps to broaden its tax base to enhance its tax revenue. He said that our country faced tough challenges due to ever rising oil prices in international market and it is not auspicious time to offer generous incentives to business and industry therefore, he called upon the businessmen and industrialists to extend their support to government to face  challenges. He said that the government would take business community into confidence while taking all important economic decisions so that they could contribute more effectively for the development and growth of business and industry as well the country at large. Speaking on the occasion president ICCI lauded the efforts of FBR for exceeding the current year revenue collection target and setting historic record by collecting revenue of Rs1002 billion during fiscal year 2007-08.