Friday , July 20 2018
Breaking News
Home / Business / PBIF for expending tax net
PBIF for expending tax net

PBIF for expending tax net

ISLAMABAD: Pakistan Businessmen and Intellectuals Forum (PBIF) has urged the government for expending tax net for the bright and prosperous future of the country and coming generations.

In a statement President PBIF Mian Zahid Hussain said that currently, tax to GDP ratio was very low in the country which forces the government to borrow.

He said that masses hope that government will invest in health, education, infrastructure, social safety and poverty eradication but the culture of tax evasion was barring their dreams to come true.

One of the major reason for non-compliance was the trust deficit between the taxpayers and tax collectors which must be tackled, he observed.

Government, he said alone cannot ensure massive investment needed for national development, therefore, the private sector should also come forward to discharge national obligations, he said. The business leader noted that despite political turmoil the Federal Board of Revenue has collected Rs100 billion in the first two weeks after many years, which was positive sign for national economy.

If the institution can maintain its momentum, it will be a great achievement, he added.