PM Orders to Reform Tax System in Pakistan

Prime Minister Imran Khan said that the taxation system should be reformed and structured in a way that facilitates businesses and helps the country’s economy grow.

He made these remarks on Friday while chairing a meeting that was attended by the Finance Minister, Hafeez Shaikh, Minister for Planning, Asad Umar, and Minister for Industries, Hammad Azhar.

Advisors Abdul Razzaq Dawood, Dr. Isharat Hussain, Dr. Waqar Masood, Tabish Gohar, Nadeem Babar, Chairman Investment Board, and other senior officials were also among those in attendance.

The premier said that the objective of tax reforms was to make the tax code simple, plug loopholes in the system, reduce discretionary powers of tax collectors and practitioners, and introduce automation to ensure transparency of the system.

He also directed the officials to focus, especially on the issue of flying invoices.

The Federal Board of Revenue (FBR) has prioritized the facilitation of taxpayers and has implemented a lot of reforms accordingly, and significant improvement has been noted as a result of this reformation process.

It has taken measures reducing human interaction, as well as the simplification of tax statutes and tax filing procedures through automation, integrity management, the enforcement of a tax code, and policy measures to boost revenue.

The FBR is also focused on promoting exports through an increase in business activity, the speedy payment of refunds and drawbacks, and better delivery of services.

Courtesy: Pro Pakistani

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