FAISALABAD. President Faisalabad Chamber of Commerce & Industry (FCCI) Mr. Shabbir Hussain Chawla has welcomed Prime Minister’s plan to broaden tax base in Pakistan and said that wealthy and potential non-tax payers must be brought into the tax net.
In a statement issued here today, he said that ratio of tax payers in Pakistan is even less than Afghanistan which is point to ponder and hence, broadening the tax net is must to strengthen national economy which is also directly linked with the economic survival of Pakistan.
He further said that plugging all loopholes in revenue leakage and broadening of tax net will ultimately benefit the national economy in addition to offloading the existing tax payers who are the main victims of heavy taxation.
He said that all chambers should convince the trading community to pay their due taxes as these will contribute their roles in providing much needed revenue for the new and necessary development projects.
“Around 1.2 million people pay taxes in Pakistan while the number of traders paying tax on electricity bills surpasses seven million”, he said and added that this gap could be bridged through sincere efforts backed by the government.
He also demanded that government should announce amnesty package across the country with mandatory precondition that money declared legal through this scheme would be invested only in the industrial sector.