LAHORE: All Pakistan Business Forum (APBF) President Ibrahim Qureshi has said that the culture of amnesty schemes should be eliminated as it discourages the honest taxpayers, besides enacting penalties in the law to punish tax evaders.
He recommended the broadening of tax base through appropriate legislation to ensure that all income earners pay taxes equitably, including on agriculture income.
“Appropriate laws should be made to enable the government to seize local assets, in equivalent value, or levy appropriate taxes, if any person holds any kind of assets outside the country for which source of income could not be established,” he said.
He said that export-oriented industries should be facilitated in the forthcoming Federal Budget 2016-17. He was of the view that rules, regulations and procedures for export-oriented sectors should be easy so that it could play its due role in economic stability of the country.
