Simplified tax system to enhance compliance

Corporate Tax Office sets up facilitation desk to address businessmen complaints

ISLAMABAD:

Corporate Tax Office (CTO) Islamabad Chief Commissioner Dr Nasir Khan has emphasised that tax system is being simplified to facilitate taxpayers and enhance tax compliance.

Speaking at the Islamabad Chamber of Commerce and Industry (ICCI), the chief commissioner assured businessmen that he would extend full facilitation and support to resolve the hardships of taxpayers.

He announced the setting up of the CTO’s facilitation desk at the ICCI, which would address tax issues of the business community. He also desired to establish a hotline with the ICCI in an attempt to ensure quick response to the problems faced by the taxpayers.

“A separate meeting will be held with the pharmaceutical sector to take up its tax matters,” Khan said and stressed that he would try to arrange a meeting between the representatives of industries and the FBR chairman where tax policy-related matters would come up for discussion.

“CTO intends to establish a coordination mechanism with the ICCI to facilitate the business community and improve the tax base; all the highlighted issues will be considered for resolving them,” the commissioner affirmed.

“Business community is a wealth creator, therefore the Federal Board of Revenue (FBR) should respect its rights and take into consideration its concerns instead of harassing the taxpayers,” remarked ICCI Senior Vice President Faad Waheed while speaking on the occasion.

Waheed asked the FBR to address flaws in the tax system and focus on broadening the tax base instead of adopting a “vertical approach”, which was overburdening the existing taxpayers.

Furthermore, he stressed, Section 7E of the Income Tax Ordinance should be revised as the tax on deemed income had created problems.

“Tax on rental income is up to 35%, which is very high and should be reduced as high taxes always promote evasion,” he stated and assured taxmen that the ICCI was willing to work in close liaison with the CTO.

Published in The Express Tribune, December 16^th, 2022.

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