MCCI expects new FBR chief to achieve tax targets

Says expansion of tax net and structural reforms need attention

MULTAN: Hailing the appointment of Tariq Pasha as chairman of Federal Board of Revenue (FBR), the Multan Chamber of Commerce and Industry (MCCI) President Khawaja Jalaluddin Roomi hoped the move will lead to the FBR achieving its tax targets.

He stressed the need for constituting a team of efficient officers to explore new tax avenues and curb tax evasion by bringing evaders into the tax net. The MCCI president praised Pasha for being an efficient officer and trusted bureaucrat, noting the latter’s sound relationship with Finance Minister Ishaq Dar under whom he worked as additional secretary.

Roomi cited expansion of the tax net and reforms in tax regimes as the areas the new chairman needs to focus on to increase revenue and reduce burden on existing taxpayers. He also criticised the prevailing organisational culture of FBR as being uncooperative towards tax-paying businesses.

Roomi urged the government to introduce structural reforms in FBR to improve tax administration and make it business-friendly to revive the economy.

The MCCI chief said that increase in tax collection is linked to the reforms in tax machinery which must be realised by the government. He further stated that government borrowings from commercial banks were crowding out the private sector and inhibiting its growth.

He was of the view that increase in taxes would lessen government reliance on borrowing which will increase availability of financial resources to the private sector and contribute massively to the country’s growth.

Published in The Express Tribune, July 26^th, 2017.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.