KARACHI: Muhammad Suleman Chawla, Acting President FPCCI has said that the apex body, in principle, has agreed to the various proposals of Pakistan Tax Bar Association (PTBA) to form a joint committee to promote tax culture in Pakistan, broadening of the tax base, simplification of taxation rates and creating awareness.
It is pertinent to note that the newly-elected President of PTBA, Anwar Kashif Mumtaz, visited FPCCI headquarters in Karachi along with senior members of his team and discuss the matters of mutual interest regarding tax reforms.
Chawla reiterated FPCCI’s stance that documentation of the economy is paramount however; active tax filers should be treated with respect and facilitated. Being in the system should be rewarding and not the other way round, he added.
Chawla informed that FPCCI advocating taxation reforms in its proposals for the federal budget 2023-24 instead of leveraging the opportunity for concessions.
We, at FPCCI, believe that broadening of the tax-base and end to harassment will be more productive as compared to sticking to the approach of taxing the taxpayers even more, he added.
Engr M A Jabbar, VP FPCCI, opined that simplification and rationalization of the taxation system in line with global best practices is required in Pakistan to adopt the models of developed economies. He stressed that tax collection machinery and adjudication should be separated in order to maintain integrity, fairness and administrative efficiency.
Engr M A Jabbar added that a meaningful consultative process with the business, industry and trade community can yield more results for the country and its economy as opposed to issuance of thousands of notices.
Anwar Kashif Mumtaz, President PTBA, outlined his association’s plan of action: (i) chambers & associations should have zero tolerance for the non-filers when it comes, (ii) chambers & associations should not verify or endorse those businesses which are not regular tax filers, (iii) FPCCI & PTBA should jointly organize National Tax Day on 24th February 2024, (iv) there should be valid, up-to-date and reliable national tax database, (v) chambers & associations should promote awareness in the business community to pay their taxes, (vi) FPCCI & PTBA should also collaborate in research and development activities to propose taxation reforms to the federal and provincial governments.
Copyright Business Recorder, 2023
Comments
Comments are closed.