With a view to start consultations with businessmen, All Karachi Tajir Ittehad (AKTI) is holding a tax reforms conference on Tuesday (today) to propose amendments to what they called 'controversial' taxation laws. "We are going to hold a conference with a view to propose amendments for tax reforms and seek abolishment of controversial tax laws to improve taxations and facilitate the taxpayers," Chairman AKTI Atiq Mir told Business Recorder on Monday.
The AKTI is seeking recommendations from the tax defaulters, besides the experts to help small traders to cope with the difficult procedures for filing returns, he said, adding that the conference will focus on the complicated issues of taxation system and give suggestions to the government to improve the structure.
"Changes in the procedures for filing direct taxes have made it hard for the common traders to meet the required demands for the last few years, which now should end to help traders pay their taxes without any problems," he said. "Nearly all the traders' bodies have termed the existing taxation procedures "impractical" to comply with," he said, adding that the taxation system is not workable for traders to file their returns.
"If the government did not improve the system, then tax evasion will grow in current fiscal year as the complex procedures is nearly beyond the traders' comprehensions," he warned. Extending the date for filing returns is not the solution to increase the tax collection, he said and suggested the government to evolve a taxpayer friendly mechanism to expand the net.
He urged the government to hold a tax conference wherein federal finance minister and tax officials along with stakeholders should be invited. Atiq Mir said the government should reform the entire tax system with introducing easy procedures for taxpayers so that the country's ailing economy could grow and help expand the tax base.
Comments
Comments are closed.