Daily Times

The Rawalpindi Chambers of Commerce and Industry (RCCI) has urged the caretaker government to extend the tax amnesty scheme announced by the previous government so that maximum number of businessmen and general public could benefit from it.

Addressing a seminar organized by the Rawalpindi/Islamabad Tax Bar Association at a local hotel, RCCI President Zahid Latif Khan said that the tax amnesty scheme would help relieve pressure on the economy by generating additional revenue for the government and would also enable the businessmen to declare their assets or income without being asked about their source of income. However, he urged the FBR to include inputs from the business community, professionals and representatives from tax bar associations to bring reforms in such schemes in the future.

Highlighting the benefits of the amnesty scheme, the RCCI chief said that it would increase tax revenue, enhance foreign exchange reserves, reduce the current account deficit, improve balance of payments, bring foreign capital to Pakistan and enhance economic activities in the country.

While lauding FBR efforts for reaching out to the chambers of commerce and business community related to tax amnesty scheme, he urged the government to extend the last date of the scheme. He also demanded that more incentives should be given to taxpayers and reforms must be introduced in tax regime to help broaden the tax net.

Published in Daily Times, June 24^th 2018.