Tarin calls for harmonising taxes
We want investment to come from US to Pakistan in oil and gas and IT sector, he said. SCREENGRAB
There is a need for greater cooperation between the federal and provincial governments in matters relating to harmonisation of general sales tax (GST), said Finance Minister Shaukat Tarin.
Chairing the first meeting of the National Tax Council (NTC) at the Finance Division, he expressed hope that under the umbrella of the council, the federal and provincial governments would act to harmonise taxes across multiple jurisdictions.
He added that tax harmonisation would facilitate businesses and reduce the cost of doing business in Pakistan.
He urged the meeting participants to work hand in hand to resolve the pending tax matters so that an arrangement relating to harmonisation of sales tax between provinces and the federal government could be finalised.
On the occasion, Finance Secretary Yusuf Khan highlighted the terms of reference of the NTC and the progress achieved so far.
The Federal Board of Revenue (FBR) and the provincial finance departments gave productive and positive input on various taxation issues, which came under discussion.
The provincial finance ministers welcomed the initiative and promised to make efforts for betterment of economy.
Published in The Express Tribune, September 2nd, 2021.
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