PFC demands tax reforms for strengthening of national economy on sound footings

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LAHORE:     Pakistan Furniture Council (PFC) Chief Executive
Mian Kashif Ashfaq Saturday emphasized on the need of result oriented
introducing reforms in existing tax laws to bring non-filers into the tax
net and PFC would put forward a set of proposals for overhauling outdated
tax machinery, including separating policy and implementation to broaden
the narrow tax base after consulting with the stakeholders in private
sector.

Presiding a meeting of board of directors here today, Mian Kashif said all
the efforts to reform tax collection machinery have failed to yield desired
results. It is evident from the fact that the business community carved out
proposals for tax reforms and presented to last Pakistan Muslim
League-Nawaz (PML-N) led government but most of its recommendations were
put into shelf.

He said a high level delegation of PFC comprising of prominent business
leadership would call on Advisor to PM on Finance Abdul Hafeez Sheikh soon
and present to him a set of proposals helping the government to bring
reforms in tax base in Pakistan.

He further said the government should focus on improving the efficiency of
tax administration through transparency, training, auditing, and upgrade of
information gathering and processing system.

Mian Kashif further said that the tax system should be simplified and all
revenue collection bodies should be merged into one ministry or body.

He further proposed that the federal and provincial tax systems should be
harmonized, double taxation should be discouraged, and direct taxes should
be encouraged instead of the indirect tax system.