Daily Times

Tariq Mahmood Meo, a senior member of the Lahore Tax Bar and former Chairman of the Sales Tax Refunds Committee, has expressed growing concerns over the confusion surrounding the Finance Act 2024. Meo revealed that 4 million taxpayers still struggle to understand the new legislation, leading to increased anxiety and reluctance to file income tax returns.

Speaking to a delegation from the Tax Bar, Meo criticized the Federal Board of Revenue (FBR) for its experimental approaches, which he believes are hindering the expansion of the tax net. He suggested that a government survey on fear-inducing departments would reveal the extent to which the FBR has become a symbol of intimidation. Meo advocated for reducing the number and rates of taxes to single digits, which he argues would resolve many issues. However, he noted that the bureaucracy within the department resists such progress. He also pointed out that despite repeated calls for a public awareness campaign on the business-friendly scheme, the government rushed its implementation, leading to problematic results.