Potential non-taxpayers must be brought into tax net: SCCI

ISLAMABAD: SAARC Chamber of Commerce and Industry (SCCI) Vice President Iftikhar Ali Malik Friday welcomed the prime minister’s plans to broaden tax net, saying that wealthy and potential non-taxpayers must be brought into tax net.

The SCCI would cooperate with the government in this regard, he said while talking to a high-level delegation of traders, importers and exporters from Sialkot led by Abdul Ghafoor Butt, executive member, Sialkot Chamber of Commerce and Industry.

According to a statement, Malik said that ratio of tax payers in Pakistan was even less than Afghanistan, adding that broadening of tax net was must for strengthening the national economy and for the survival of the country.

He said that Federation of Pakistan Chamber of Commerce and Industry (FPCCI) and top leadership of United business Group (UBG) had agreed to lend a helping hand to the government in this regard.

He said that plugging of revenue leakage and broadening of tax net would ultimately benefit existing taxpayers in terms of reduction in heavy taxation.

He said that the UBG and all chambers across the country would not only resolve the issues being confronted by the traders but also convince the trading community to pay their due taxes timely.

He said that Prime Minister Shahid Khaqan Abbasi had assured to address all the genuine grievances of the business community on top priority and had directed all attached departments to resolve traders’ issues.

“Around 1.2 million people pay taxes in Pakistan while the number of traders paying tax on electricity bills surpasses 7 million, he said, adding that this gap could be bridged through sincere efforts backed by the government.

He said there was consensus amongst tax experts that most of the problems were stemming from weakness in the effective implementation of fiscal laws.

 Published in Daily Times, February  10th2018.