Tax system

Rationalising taxation laws and broadening tax base should be priorities

Provincial finance minister hopes mechanism will steer transparency in system

Considers bringing foreign companies on par with local firms

Tolerance of tax loopholes is decreasing in corona-hit EU states

Move will pave way for two World Bank budgetary support loans worth $750m

Tax authorities have proposed amendments to Incom Tax Rules 2002

Directs field formations to ascertain causes behind poor WHT receipts

Official says retailers should be asked to purchase only from sales tax registered persons

CM’s Adviser Malik Naeem Bazai says online tax system would reduce corruption

Tax collection has not focused on helping marginalised segments

They labeled measures that European Commission and individual countries have taken as insufficient to curb tax evasion

Suggests decreasing indirect taxes, bringing sales tax down to 15%

Honest taxpayers will not step forward until they feel comfortable that the FBR will not indulge in a witch-hunt

Government increasingly relying on banking system to raise funds