The public-private sectors task force on taxation reforms has recommended to the government to establish one agency for collection of federal and provincial taxes for creation of business environment in the provinces. The Investment Climate Reform Unit (ICRU), Planning and Development, Punjab, held the first Task Force meeting to address the taxation issues faced by the private sector in the province. The Task Force on Taxation Reforms is an extension of the Public Private Dialogue Council, formulated under the PPD mechanism of ICRU, and is one of the several critical decisions undertaken during the 3rd PPD Council session chaired by Mohammad Jehanzeb Khan, Chairman P&D Board upon request from the Private Sector.
The Taxation Reforms task force meeting was led by Bruno Olierhoek, President OICCI and CEO Nestle and Maleeha Bangash, MD ICRU. Other private sector representatives and sector experts present were Saquib Hussain Shirazi, CEO Atlas Honda; Almas Hyder, Chairman of the Board Synthetic Products Enterprises Ltd; Samir Ahmed, CEO Knightsbridge Capital; Dr Ikramul Haq, Advocate Supreme Court & Chief Partner Huzaima & Ikram; Usman Khan, Adjunct Faculty at LUMS; Naeem Mohsin, Financial Controller Atlas Honda Lahore; Hammad Zafar, Head of Taxation Nestle and representatives from Finance department Punjab.
The main areas of discussion during the meeting were frequency of taxation and need for harmonization of tax regimes between the provinces and federal government.