Express Forum: Widen tax net instead of squeezing existing taxpayers
Traders, business owners offer workable suggestions on how to increase tax revenue.
Traders, business owners offer workable suggestions on how to increase tax revenue. ILLUSTRATION: JAMAL KHURSHID
ISLAMABAD:
Instead of burdening existing taxpayers, the government should include a tax survey, to be conducted in collaboration with chambers of commerce, in the federal budget for fiscal year 2014-15 to widen its tax net.
These views were expressed by the representatives of the Islamabad Chamber of Small Traders and Industries and the Women Chamber of Commerce and Industries at a pre-budget discussion forum hosted by Daily Express.
The speakers suggested setting up a national advisory board under the chairmanship of the prime minister or the finance minister to introduce an integrated economic system for the provinces and federal territory.
The board should have representation from all provinces and from trader associations, the speakers said, adding that laws should also be amended to only consider taxpaying traders for membership of chambers of commerce.
The traders said the next federal budget should be made investor-friendly and it should be geared to benefit small and medium enterprises.
Women Chamber of Commerce and Industry President Samina Fazil said women face more challenges than men in operating businesses. Fazil said women traders should be included in financial policymaking so they can have their concerns addressed.
Small traders’ representative Jahangir Akhtar said the business community should be most concerned by Pakistan’s economic situation because if the state fails, traders will be the worst-affected. Akhtar said the Federal Board of Revenue should collaborate with market trade unions to conduct tax surveys to widen the tax net.
Sheikh Abdul Saleem, the chairman of the Central Traders Association of Islamabad, said there should be incentives for taxpayers so that a culture of paying taxes is developed in the country.
Speakers also said indirect taxes are extremely dangerous and unless the government focuses attention on collecting direct taxes, inflation cannot be capped.
Published in The Express Tribune, May 13th, 2014.
Instead of burdening existing taxpayers, the government should include a tax survey, to be conducted in collaboration with chambers of commerce, in the federal budget for fiscal year 2014-15 to widen its tax net.
These views were expressed by the representatives of the Islamabad Chamber of Small Traders and Industries and the Women Chamber of Commerce and Industries at a pre-budget discussion forum hosted by Daily Express.
The speakers suggested setting up a national advisory board under the chairmanship of the prime minister or the finance minister to introduce an integrated economic system for the provinces and federal territory.
The board should have representation from all provinces and from trader associations, the speakers said, adding that laws should also be amended to only consider taxpaying traders for membership of chambers of commerce.
The traders said the next federal budget should be made investor-friendly and it should be geared to benefit small and medium enterprises.
Women Chamber of Commerce and Industry President Samina Fazil said women face more challenges than men in operating businesses. Fazil said women traders should be included in financial policymaking so they can have their concerns addressed.
Small traders’ representative Jahangir Akhtar said the business community should be most concerned by Pakistan’s economic situation because if the state fails, traders will be the worst-affected. Akhtar said the Federal Board of Revenue should collaborate with market trade unions to conduct tax surveys to widen the tax net.
Sheikh Abdul Saleem, the chairman of the Central Traders Association of Islamabad, said there should be incentives for taxpayers so that a culture of paying taxes is developed in the country.
Speakers also said indirect taxes are extremely dangerous and unless the government focuses attention on collecting direct taxes, inflation cannot be capped.
Published in The Express Tribune, May 13th, 2014.