MULTAN:Special Assistant to Prime Minister for Revenue Senator Haroon Akhtar Khan has attended the voluntary compliance tax awareness seminar organized by the Regional Tax Office Multan.
The Regional Tax Office organized the seminar for the business community of the Southern Punjab to inform traders about the benefits of the voluntary tax compliance scheme. Tax authorities of the Regional Tax Office organized the seminar on the instructions of the FBR to make tax amnesty scheme a success.
Commissioner Bilal Zubair has given briefing to the participants of the South Punjab about tax amnesty Scheme that Federal Board of Revenue have simplified assessment between filer and non –filers by launching new tax amnesty Scheme. He told that voluntary tax compliance scheme has been drafted after recognizing the impediment of the trader’s community and almost all tax complications are fixed through this pattern. He addressed that FBR have launched single page return to ease taxpayer and through this scheme exempted from sales tax registration. After filing tax returns, you will be exempted from tax audit from 2015 to 2018 and exemption of wealth statement on less than one million turnovers. But if tax payer failed to file tax returns in the next four years then he will not remain eligible for this voluntary tax compliance scheme.
Chief Commissioner Regional Tax Office Multan urged business community that they should avail opportunity of this newly launched scheme as it is much more productive for them. He told that this scheme has been launched due to mutual efforts and consents of the government and business community.
Member Inland Revenue Rehmatullah Wazir told that only one million people out of 20 million filed their tax returns which is an inadequate part of our economy. He told that 90 percent traders of the country are still out of tax net and we trying to bring them into tax base. He expressed that government of Pakistan have formed laws with legislative wisdom without use of any force to realize tax payers that state is serious in economic reforms through their cooperation. He advised that non –filer should file tax returns and avoid themselves from deduction of withholding taxes on banking transactions.
When non-filer becomes filer through this volunteer tax compliance scheme then all previous tax notices will be reserved .He further told that we are aware with the difficulties of the traders but the tax payment is the duty of every citizen who earned payable amount in the country.
According to received date of Multan Electric Power Company (MEPCO), there are almost 425,000 consumers which come under tax net and we are making our efforts to bring them into tax net Rehmatullah Wazir revealed.
Special Assistant to Prime Minister for Revenue Senator Haroon Akhtar Khan addressed the traders that launching of tax amnesty scheme were tough decision for government which took after long negotiation with business community. He spoke that our tax machinery is not working properly for collection of taxes due to which to we knocked door of IMF and World Bank for our financial assistance. We are trying to rectify our tax system because only one million people is filing tax returns which also mostly hide their income. India is our neighbouring country where 4 percent filers file their tax returns and our tax base is too minor as compare to economies of the region.
We have started tax amnesty campaign from Multan and it is like our new economic product for which we are doing marketing in the country and Multan is its first place.
This scheme would have a positive impact on the economy as it would encourage non-filers to become filers by declaring their working capital to regularize their undeclared capital of Rs 50 million by paying one per cent minor tax before February 29.
He told that it’s a big achievement for the government that we are on your door step to provide benefit of our people through this campaign. This scheme has been made for you and we need your cooperation for the success of this scheme. He ensured business community for full cooperation during volunteer tax compliance scheme and there is need to feel panic about Federal Board of Revenue.
