LAHORE: In order to curb smuggling, customs duty on commercial items which are not produced and manufactured in Pakistan should be reduced while rate of tax be lowered in the upcoming budget 20116-17. In doing so, the government will be able to generate additional revenue.
These views were expressed by PML-N Traders Wing President and LCCI VP Nasir Saeed during an exclusive interview with Customs Today here.
Nasir said that it is being said that government is considering to decrease tax rate upto 30 percent for corporate sector. “If the government reduces rate of taxes the tax net will expand in the result and the taxpayers would be encouraged,” he believed.
LCCI in this regard has taken a number of measures including holding meetings with Federal Board of Revenue officials and forwarding budget proposals to the board, he said, adding that a special meeting with the advisor to PM Haroon Akhtar was also held.
“All the initiatives and meetings with FBR and special advisor to PM were emphasizing on reducing tax rate and duty to curb smuggling and enhance tax net, “the PML-N Trader Wing president disclosed.
He said that SRO culture and powers of the tax collectors should be reduced and the existing taxpayers who are regularly paying duty and taxes should be give due respect but unfortunately the taxpayers are not only been harassed but also squeezed.
He said that those who are in tax net they have to face audits and surveys while those who are out of tax net are enjoying peace of mind and saving time and money. He said that those tax payers should be respected while the evaders should be dealt with iron hand.
To a question Saeed said that Punjab Revenue Authority has introduced incentive for the taxpayers and the FBR can follow the strategy to enhance tax base. He added that PRA with limited staff has achieved its third quarter revenue collection target.
He lauded the FBR’s newly introduced SRO that has incentives for the whistle blowers if he comes with solid proofs.
In order to promote tax culture in the country FBR should conduct awareness seminars, meet the people, approach to the chambers and markets besides tax related topics should also be included in the school text book to enhance awareness among the citizens.
