Karachi, March 21, 2014 (PPI-OT): President of the Karachi Chamber of Commerce and Industry (KCCI), Abdullah Zaki will be representing Karachi Chamber in the Tax Advisory Council formed by Federal Board of Revenue (FBR).
The Tax Advisory Council has been formed to seek proposals on new taxation measures, provide necessary input on different tax policy matters, suggest ways and means to expand the tax base and propose legislation for making tax compliance law more effective.
According to FBR, the Tax Advisory Council encompasses all stakeholders including chartered accountants, academia, senior tax consultants, retired senior officers of Customs and IRS, industrialists, Presidents of various chambers of all four provinces including the Karachi Chamber.
President KCCI Abdullah Zaki, while expressing gratitude to the government for setting up FBR’s Tax Advisory Council, said that the government has decided to take all stakeholders on board in the policymaking process which will go a long way and help in resolving a number of tax-related issues being faced by the business community.
He said that in order to make FBR’s tax collection system more effective, it must be completely reformed in consultation with various stakeholders who have been included in the Tax Advisory Council.
He said that some serious flaws in the tax collection process along with severe hardships being faced by the existing taxpayers due to complex procedures and massive corruption, the non-taxpayers prefer staying away from FBR. “Pakistan’s revenue collection can be substantially raised and there will absolutely be no need to raise taxes, if we succeed in devising an effective strategy which is capable of minimizing the complexities in tax system and eradicating corruption in the FBR”, he added.
He hoped that the government will continue to take every stakeholder onboard and such Advisory Councils must also be introduced in other departments as well, which would not only help in restoring the confidence of business community but will also improve performances of various public sector departments, besides ensuring economic prosperity for the country.
For more information, contact:
Karachi Chamber of Commerce and Industry
Aiwan-e-Tijarat Road ,
Off: Shahrah-e-Liaquat ,Karachi-74000