The business community Sunday called for bringing all identified 3.5 millions tax evaders and millions of other non tax filers immediately into tax net for broadening base to provide relief to existing tax payers.
Commenting on federal budget, Coordinator to Federal Tax Ombudsman and former Senior Vice President Lahore Chamber Meher Kashif Younis, members executive committee of chamber of commerce Shahid Nazir and Mufti Yousaf Shah said that draconian action must be taken against tax evaders and non filers after a high level impartial scrutiny preferably conducted by a third party.
He lamented that 9.5 % tax to GDP ratio in Pakistan is even less than other countries of South Asia whereas its 46.2 % in France,46.0 % in Denmark and 44.6% in Belgium.
He stressed the urgent need of broadening the tax base exclusively with new tax payers which he added is oxygen to strengthening of national economy.
He said world over judicious taxation plays a key role in economic growth of the nations and especially it matters a lot in developing countries.
Meher Kashif said that although good steps have been taken to accelerate the pace of growth but undue taxation on construction industry will directly affect the 40 allied industries and urged the government to withdraw new tax to help flourish inter connected industries which are providing job to millions of workers.
He said tax on construction industry has been proposed without taking stakeholders into confidence.
He hoped that government will withdraw it in larger interests to help boost construction industry which plays key role in national development.
Afsheen Gohar believes in the power of clear, straightforward writing. Her blog posts tackle everyday topics with relatable insights and easy-to-follow advice. With a conversational style, she makes complex subjects feel understandable. She’s dedicated to sharing knowledge and empowering readers to take action. Find her latest posts on trending in social.
