Founder Chairman Pak-US Business Council Iftikhar Ali Malik Tuesday said the entire business community including Federation of Pakistan Chambers of Commerce, all its affiliated chambers, trade bodies and associations will extend full support to Prime Minister Imran Khan for broadening tax base across the country to help strengthen the bleak economy on sound footings; thus, lessening the burden on existing taxpayers.
He expressed these views while talking to a traders' delegation led by Mian Zahid Jawaid Ahmad. The taxation and growth should go hand in hand, and it can only be done through fair taxation system. "If growth of business and economy will be choked there will be no increase in tax collection," he added. The ratio of tax payers in Pakistan was even less than Afghanistan, adding the broadening of tax net was must for strengthening the national economy and for the survival of the country, he added.
He asked the Prime Minister to take the business leaders especially Federation of Pakistan Chamber of Commerce and Industry and other stakeholders into confidence prior to taking a monetary decision and in the process of policy making to achieve desired results.
He said that the tax system should be simplified and all revenue collection bodies should be merged into one ministry or body to facilitate the tax payers. This practice will help in ease of doing business in the country, he said, adding that according to the World Bank, Pakistan is at 144th number in ease of doing business of the list of 190 countries, which is alarming.
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