Business facilitation to help widen tax base
The seminar was held to provide awareness of the initiatives taken in the Strategic Trade Policy Framework, educate the private sector about procedural requirements, eligibility criteria and other formalities for taking benefit of the incentives and get feedback from the private sector. PHOTO: http://lcci.com.pk/
Businessmen have urged the Federal Board of Revenue (FBR) to facilitate the businesses that are willing to declare their assets and work jointly to establish a suitable mechanism.
“I know that the tough conditions of IMF (International Monetary Fund) and FATF (Financial Action Task Force) will not allow the FBR to do so but for the sake of economy and the country, we have to work hand-in-hand to evolve a mechanism,” said Lahore Chamber of Commerce and Industry (LCCI) President Kashif Anwar during a meeting with FBR Chairman Asim Ahmad on Friday.
The meeting was held following the opening of FBR’s new building in Lahore. Various issues and suggestions came up for discussion.
On the occasion, the FBR chief invited the LCCI president to Islamabad for detailed discussions on the bottlenecks hindering the smooth running of businesses.
Anwar said the LCCI, which had more than 32,000 members, had always promoted compliance with tax matters and business facilitation besides focusing on the ease of doing business.
“We are working to enhance the tax base as this is the only way that can help overcome the economic challenges being faced by the country,” he said and called on the FBR to consider the private sector as a partner.
“Through better facilitation, compliance and ease of doing business, considerable progress can be made in the broadening of tax base,” the LCCI chief remarked.
Published in The Express Tribune, October 15th, 2022.
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