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RCCI wants extension in tax amnesty scheme

RCCI wants extension in tax amnesty scheme

RAWALPINDI: The Rawalpindi Chamber of Commerce and Industry (RCCI) President Zahid Latif Khan has urged the care taker government to extend the tax amnesty scheme so that a maximum number of the business community and general public could avail its benefit.

Addressing a seminar organized by Rawalpindi/Islamabad Tax bar Association, at a local hotel, RCCI chief said that Tax Amnesy Scheme 2018 would relieve pressure on the economy by generating additional revenue for the government. It would also enable businessmen to declare their assets or income without being asked about their source.

However, he urged FBR to include the inputs of business community, professionals and representatives from tax bar associations for bringing reforms in such schemes.

Highlighting the benefits of amnesty scheme, he said that it would increase tax revenue, enhance foreign exchange reserves, reduce the current account deficit, improve balance of payments, bring foreign capital to Pakistan and enhance economic activities.

While lauding FBR efforts for reaching out to the chamber of commerce and business community related to tax amnesty scheme, Zahid Latif Khan urged government to extend the last date of scheme.

He also demanded that more incentives should be given to tax payers and reforms must be introduced in tax regime to help broadening the tax net and increasing the tax payers numbers.