'Rationalisation to help broaden tax net'

RAWALPINDI:

The newly elected President of the Rawalpindi Chamber of Commerce and Industry (RCCI) Usman Shaukat has said that rationalization of taxes can help broaden the tax net. It is very unfortunate that FBR could not get desired results of the Tajir Dost Scheme.

Instead of bringing new taxpayers into the system, the scheme only involved existing taxpayers and added unnecessary additional burden.

Usman Shaukat, while sharing his views about the Tajir Dost Scheme and broadening the tax net in a private TV program, said that every year additional taxes are being passed on to the existing taxpayers.

He said that the Chamber has always voiced about increasing the tax net and urged the tax authorities to increase the tax net by adding new sectors and departments rather than squeezing existing taxpayers.

He urged that the loopholes in the Tajir Dost Scheme should be removed and stakeholders should be consulted, tax collection based on the size of the shop is not realistic.

He emphasised the need for a collaborative approach, calling for discussions with business owners and industry leaders to develop more effective tax policies.