Daily Times

Chairman of National Business Group of FPCCI, President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Wednesday said tax target for incoming fiscal should be reviewed as it will result in additional stress on the masses and FBR. Economy and the business community is not in shape to bear the burden of Rs6100 billion unrealistic target which will be stressful for the tax officials as it will widen the gulf between FBR and taxpayers while open floodgates for litigation, he said. Mian Zahid Hussain said that the government should explore options of reducing the size of the undocumented economy to meet the target agreed with IMF. Talking to the business community, the veteran business leader said that many businesses are not registered while underreporting has become a common practice.