April 10, 2019
Reviving Tourism - First Pakistan Tourism Summit 2019
“Travel makes one modest. You see what a tiny plCONTINUE READING
Minister of State for Revenue Hammad Azhar announced on Wednesday in Sustainable Development Policy Institute (SDPI) conference that Government has planned to move ahead with a new national tax agency instead of asking taxpayers to file different taxes at federal and provincial levels separately.
He said that many formal sectors like sugar, plastic, steel etc broke at some level and further informed major problem of informal sectors, so FBR could not collect the fully due tax.
He said further, the government is going to use technology, integration of data from different avenues including 30 government agencies and separation of tax policy administration to improve the administration.
Hammad Azhar also informed PTI government had never tempted to generate revenues for achieving monthly FBR targets through the increased rate of taxation on POL products and claimed that the taxes were reduced to the lowest compared to the last years.
Talking about the International Monetary Fund (IMF) program, he said the government would never step back from anything which is in the interest of Pakistan, no matter what the political cost is.
He added more, technology is a ray of hope. The government planned a solution in development of IT sectors. To overcome from the smuggled phone is one the government plan. The minister also announced to bring reforms in the Pakistan Revenue Automation Private Limited in the coming days.
From bringing of new national tax agency by PTI government will make the payment of taxes increase without visiting taxpayers in tax offices. By this development, the Government can reach the monthly tax collection target. By opting this method Pakistan can easily come over from its many crises and will have a hope of the prosperous country. This step not only help the economics and finance of Pakistan but it also makes taxpayers life easy.