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FBR urged to broaden tax base

FBR urged to broaden tax base

RAWALPINDI: The representative of local business community has urged the Federal Board of Revenue (FBR) chairman to introduce a policy which could help enhance tax collection.

Rawalpindi Chamber of Commerce and Industry (RCCI) President Zahid Latif Khan was of the view that the board should introduce a policy that could help bring foreign and local investment in the real-estate sector and help promote growth.

He said, the builders and developers were not against the tax collection and broadening of the tax base, however, they want friendly environment.

RCCI Chief said that seeking the details of property buyers from the builders and developers was against the growth of the construction industry and such steps may be counterproductive.

Zahid Latif said that after agriculture sector, the construction sector was the second largest employment providing industry in the country and the growth of over 100 other related industries was directly linked to its development.

Many countries worldwide were introducing lucrative incentives for the real estate and construction industry in order to boost economic activities.