Moot on ‘Online Collection of Govt Taxes & Duties’ held
Taxpayers must avail online collection for taxes and duties that will provide relief and convenience to the business community.
“Newly launched system of online tax payment will enable the taxpayers to pay Income Tax, Sales Tax, Customs Duties and Federal Excise Duties etc. without any hassle of going to banks or certain offices. Concerned departments and private sector should join hands to make this system successful.”
This was upshot of the speeches delivered at a seminar on “Online collection of Government Taxes and Duties” organized by the Lahore Chamber of Commerce & Industry and State Bank of Pakistan. The LCCI President Malik Tahir Javaid, Vice President Zeshan Khalil, Additional Chief Manager, State Bank of Pakistan ansar Iftikhar Butt, Additional Collector Customs Rashid Munir were prominent amongst the others.
The experts said that business community should take full advantage of the system and pay their taxes and duties by using online facility that would save their precious time. They said that success of online system would establish friendly relations between the taxpayers and tax collectors besides improving Pakistan’s international ranking in the ease of doing business index.
The LCCI President Malik Tahir Javaid said that system of online tax payment will certainly prove to be a positive step towards improving the ranking of Pakistan especially in ‘Paying Taxes’ that is one of the ten factors of Ease of Doing Business. He said that according to the recently released World Bank Ease of Doing Business 2018 Report, Pakistan has slipped three places from its last year’s ranking of 144th, reaching 147th among 190 economies. Our ranking in ‘Paying Taxes’ is 172 which has to be improved to bring major turnaround in overall ranking.
“We must understand that international investors consider Ease of Doing Business ranking before making investment decisions in any country. Such a low ranking dents the image of Pakistan badly in the eyes of foreign investors and the Government’s business friendly perception. It is the joint responsibility of all the stakeholders of the economy to collaborate with each other to set the things in order”, the LCCI chief added.
Malik Tahir Javaid said that it is the result of efforts spearheaded by LCCI that the facility of online payment of taxes and duties is going to be launched. It is not less than a milestone achieved by our joint efforts. We hope that it will kick start the much needed change required to improve the business environment in Pakistan. He assured that Lahore Chamber of Commerce & Industry will respond positively to any initiative taken in the best interest of Pakistan economy.