QUETTA, Oct 21 (APP): Chairman of the Standing Committee on Petroleum and Resources, Senator Muhammad Abdul Qadir, stated on Saturday that measures are being taken to increase tax compliance and promote a tax culture in the interest of boosting the country’s economy.
In a statement issued here, he mentioned that a meeting was held with the Chairman of Federal Board of Revenue (FBR) and the Chairman of the National Database Regulatory Authority (NADRA) to discuss the stability of the country’s economy and consider important suggestions.
During this crucial meeting, practical suggestions were discussed for sharing taxpayer data and increasing the number of taxpayers. There is an urgent need to increase revenue to manage the state’s affairs and pay off debts, he emphasized.
Senator Muhammad Abdul Qadir emphasized the importance of coordination between the two institutions to ensure effective revenue collection. Immediate and effective steps need to be taken to expand the tax base and maintain transparency.
He further noted that NADRA and the Federal Board of Revenue would exchange data related to tax matters. This mutual cooperation will enhance tax collection efficiency and contribute to transparency.
Increasing the tax-to-GDP ratio was considered a significant goal, and the Chairmen of FBR and NADRA agreed to remove obstacles hindering the growth of the taxpayer base. All proposed recommendations were thoroughly examined, and the Chairman of FBR reiterated the commitment to enhancing tax compliance and promoting a tax culture.
The Chairman of the Standing Committee added that the Chairman of NADRA assured the Chairman of FBR that the data requested by FBR for a substantial increase in revenue collection was in the best interest of the country and the nation.
He stressed that the country is facing severe economic pressure, and all institutions and classes must work together to successfully address this economic crisis.