Structural, operational weaknesses of existing tax system require reforms

Staff Reporter

A seminar on the present tax regime was organized by FPCCI in collaboration with Policy Research Institute of Market Economy (PRIME) addressed by leading think tanks, business experts, economist, including Dr. Ikramul Haq, Ali Salman CEO (PRIME), Mr. Hanif Lakhani, Mr. Nasir Khan, Mr. Adeel Siddiqui (Vice Presidents FPCCI), Sheikh Sultan Rehman, Engr. M.A. Jabbar (Former Vice Presidents FPCCI), Members Budget Advisory Council of FPCCI and Trade and Industry representatives.

Engr. M.A. Jabbar in his opening remarks said that complications and irritants in the present tax systems need to be made exclusive to for capitalizing the available tax potential in the country.

Complexities in the taxation systems keep on increasing with every budgetary exercise possibly due to reduced consultations with stakeholders by FBR.

Business sector is substantially overburdened to resolve its tax issues rather engage in economic activities on the basis of tax predictable business environment to contribute in improving socio economic conditions.

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