LAHORE: United Business Group in the federation of Pakistan Chamber of Commerce and Industry announced to fully support the government for launching vigorous crackdown against the real tax evaders in the country to provide solace to existing tax payers.
Group Patron-in-chief SM Muneer, Chairman Iftikhar Ali Malik, President Zubair Tufail ,Secretary General Zafar Bakhtawari and Secretary Information Dr Mirza Ikhtiar Baig said broadening tax base is perhaps the most significant challenge facing Pakistan. After 74 years of its existence, Pakistan has nearly around three million income tax payers, one of the lowest tax-to-GDP ratios in the world and tax system is riddled with inequity marred with corruption.
Iftikhar Ali Malik said government must bring all non-filers across the board who are supposed to,by law for paying tax,into tax network to increase the revenue and lessen burden on all already taxed segments of the society. He said in many countries tax evaders are punished and sent behind the bar.
He quoted Bosnia, Herzegovina, Rwanda and Georgia, a big push was made to get business registered that worded and revenue rose quite quickly. Later they reduced tax holidays and slashed income rate from from 30 to 10 percent and ultimately revenue increased manifolds.
Entire United Business Group(UBG) unanimously urged the government to make result oriented sincere and hectic efforts through highly transparent system to identify the real people who are not registered or paying taxes including companies hiding in the so-called informal sectors.
Pakistan can’t progress unless until, all people pay their due taxes timely and clear their financial liability towards government. UBG will continue to safeguard the interests of the business community at all level and this support to government is in their larger interests and government as well to lessen the burden on already taxed people.
