Daily Times

KARACHI: Islamabad Chamber of Small Traders Patron Shahid Rasheed Butt on Sunday expressed concern over the plan of the government to impose Rs 500 billion new taxes in the upcoming budget.

Masses as well as the business community would never accept new taxes, as it would open floodgates for corruption and inflation, he said, adding that the government should not burden masses, rather it should initiate reforms in the FBR to boost revenue by trillions. The countries that accorded autonomous status to their tax authorities have seen growth of 40 to 120 percent in the collection, therefore Pakistan should do the same, he said.

Around one million people file tax return in country while the figure was 1.6 million in the 1990s, which indicate increasing distrust among taxpayers, which is an incentive for evasion, he added.