ISLAMABAD, May 15 (APP):Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and United Business Group (UBG) Wednesday unanimously highly welcomed tax-amnesty scheme announced by the government and termed it a very positive step of the government to bring tax evaders under tax net.
FPCCI President Engineer Daroo Khan Achakzai and founder Pak-US Business Council chairman and veteran trade leader Iftikhar Ali Malik discussed this amnesty scheme in details in regard of its benefits to economy of the country,” a press release said.
Daroo Khan said new tax amnesty scheme was a right step taken by the government to bring tax evaders under tax net besides enhancing the country’s revenue base.
He said increasing tax base and revenue generation was imperative for provision of better economic and social services to people.
“The law and order situation is now fully restored in the country and people can bring their money back by taking full advantage of the new scheme,” he added.
He said all must avail this golden opportunity and whiten their wealth and hidden properties through legal process and contributes towards national economy.
Appreciating this amnesty scheme, Iftikhar Ali Malik said the entire business community including FPCCI and UBG, all its affiliated chambers, trade bodies and associations welcomed this amnesty scheme and extended full support to Prime Minister Imran Khan for broadening tax base across the country to help strengthen the bleak economy on sound footings; thus, lessening the burden on existing taxpayers.
He said the taxation and growth should go hand in hand, and it can only be done through fair taxation system. “If growth of business and economy will be choked there will be no increase in tax collection,” he added.
He said ratio of tax payers in Pakistan was even less than Afghanistan, adding the broadening of tax net was must for strengthening the national economy and for the survival of the country.
He said the tax system should be simplified and all revenue collection bodies should be merged into one body to facilitate the tax payers.
This practice will help in ease of doing business in the country, he said adding according to the World Bank, Pakistan is at 136th number in ease of doing business of the list of 190 countries.
Iftikhar Ali Malik, who is also chairman of UBG, the largest alliance of chambers in the country, said Daroo Khan Achakzai, in principle agreed to lend helping hand to the government in this regard.
He also emphasized to create awareness about converting the black money into white money, to increase the confidence of tax payer, incentives for the SMEs, exports warehouses, agriculture sector, and removal of piracy, mis-declaration and smuggling.