LCCI calls for revamping taxation system

Chamber organises seminar on e-payment facility

LAHORE: The Lahore chamber has been making consistent efforts to make the government realise that revamping the entire taxation system is the need of the hour, said Lahore Chamber of Commerce and Industry President Malik Tahir Javaid.

Speaking at a seminar on ‘E-payment facility in WeBOC’, he said that the LCCI has always demanded that number and frequency of taxes need to be reduced and the taxpayers should be given the option to pay taxes online.

The seminar was jointly organised by LCCI and Directorate of Reforms and Automation, Federal Board of Revenue (FBR). The participants of the seminar welcomed the Director General of Reforms & Automation, Karachi for making the business community aware of the newly developed e-payment module, which will formally be launched at the end of January 2018.

The participants said that joint initiative by the LCCI and the FBR will help understand the entire process of e-payment in WeBOC.

Javaid informed that now tax liabilities can be discharged through credit cards and from anywhere, which is a good facility for the business community. He said that there is a factor - ‘paying taxes’ - which contributes in determining the overall ranking of a country in terms of ease of doing business. Pakistan’s ranking in Paying Taxes plunged by 16 notches to 172, as compared to 156 last year.

Collector Appraisement Jameel Nasir Khan said that in times to come, the e-payment module will prove vital in bringing revolution in the tax collection mechanism, which has to be aligned with the vision of SBP for the year 2020.

Published in The Express Tribune, January 18^th, 2018.

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