Experts call for broadening tax base. PHOTO: FILE
There is a need for consolidating tax collection methods while broadening the tax base so that it could bring benefits to the manufacturing sector.
This was stated by experts at a post-budget seminar at the Allama Iqbal Open University (AIOU) on Wednesday. The seminar was held to analyse the impact of the proposals made in the budget for the fiscal year 2017-18 on the national economy and to take academic input on a balanced and people-friendly budget.
The main speakers at the seminar were Pakistan Institute of Development Economic (PIDE) Vice-Chancellor Dr Asad Zaman and Sustainable Development Policy Institute (SDPI) Deputy Executive Director Dr Waqar Ahmed.
Dr Ahmed in his detailed presentation on various aspects of the budgetary proposals suggested ways and means for tightening the monetary system to avoid inflation ensuring less burden on the people.
Talking about the new taxation measures, Dr Ahmed underlined the need of consolidating tax collection methods and broadens of tax-base.
He added that there should be simplification and transparency in the entire financial management system.
Dr Ahmed also called for bringing reforms in the federal excise duties.
“The positive impact of an annual 5.6 per cent GDP growth must be transferred to society,” he asserted.
The seminar had been held by AIOU Vice Chancellor Dr Shahid Siddiqui to get academicians and students involved in the development of the national economy.
Published in The Express Tribune, June 1st, 2017.
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