Timely policies help expand income tax-return filing bases by 43 percent

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Shams Abbasi

ISLAMABAD, Aug 25 (APP):Owing to prudent, timely and swift tax reform policies of the incumbent government, the income return filing base has widened by around 43 percent to the record level of 2.5 million filers, as 0.750 million news return tax-filers have registered themselves in the tax system till the last date, as indicated by official data.

Economic experts are of the firm belief that the country is in dire need to expand its tax-base to bear the expenditures and run the affairs of the state in smooth manner and it was in this perspective that the government had enhanced the revenue collection target up to Rs5.55 trillion for the current fiscal year (2019-20).

The government had already announced various measures in the federal budget and the Federal Board of the Revenue (FBR) had also been meticulously working on strategies to bring maximum number of people into tax net.