LAHORE: Pakistan’s tax system should be revamped in line with Chinese taxation model, which is based on growth instead of the regulatory pressures, said Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) President Shah Faisal Afridi. While presiding over a high level meeting with the executive committee of the chamber, Afridi was of the view that administrative reforms were essential in tax mechanism and attention should be paid on re-designing of tax recovery system. He further gave a briefing on the proposed tax reforms roadmap based on the Chinese taxation framework. The PCJCCI president stressed the need to create an optimal balance between a tax regime and the growth of business to create an investment friendly environment along with an effective mechanism for leveraging enough revenue for public service.
Published in The Express Tribune, May 15th, 2019.