ICCI for broadening tax net regime to enhance country’s revenue

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ISLAMABAD, Feb 22 (APP):Islamabad Chamber of Commerce and
Industry (ICCI) on Wednesday called for broadening of the tax net regime by including new filers for enhancing revenue collection.
Proper data collection system would be must to enhance the tax
filers numbers,instead to putting burden on current tax payers,said Senior Vice President ICCI, Khalid Malik, told APP here.
Senior Vice President ICCI urged for reforms covering all the
sectors of economy and taking steps by broadening tax base,besides paying immediately refunds to exporters.
He also strassed the need for establishment of new industries to create jobs opportunities and improve revenues for the development of the country.
Replying to a question,he said that ICCI would invite all
industrialists for consultation and for recommending new budget proposals to the government from the business community.
“We will put up the budgetary proposal to the government in
consultation with all stakeholders”, he remarked.
He was of the view that the business community would recommend proposals like how to improve sales tax, income tax and customs duty regimes.
Khalid urged the government for focussing on ease of doing
business, which would attract much needed investment to trigger economic growth in the country.
Replying to another question, he suggested that electricity prices should further be reduced, which effect the cost of doing business.
There is need to reduce the power debt which is also causing
hike in electricity prices,he added.
Senior Vice President of ICCI also appreciated the Rs 180
billion package for exporters aiming at to enhance exports in the country.