Finance adviser asks FBR to make tax collection process easier
ISLAMABAD (92 News) – Advisor of Prime Ministeron Finance Dr Abdul Hafeez Shaikh has directed the Federal Board of Revenue (FBR) to make tax collection process easier and initiate measures to broadening the tax base.
He was chairing a meeting to review Budget proposals in Islamabad.
FBR Chairman Shabbar Zaidi gave a presentation about budget proposals for the next fiscal year. He proposed various steps to expand tax base and increase revenue of the country.
FBR chairman warns sales tax defaulters of stern action after June 30
Federal Board of Revenue (FBR) Chairman Shabbar Zaidi has warned sales tax defaulters of stern action if they did not clear their accounts till June 30.
Addressing a press conference on Wednesday, he asked the defaulters to pay two percent tax to get them registered under the Asset Declaration Scheme by June this year.
He also announced to introduce a tax system on the consumption of gas and electricity. “There are 341,000 electricity and 7,000 gas industrial consumers, but only 38,000 industrial units are registered in sales tax.”
Shabbar Zaidi said that the government wants to facilitate the business community while enhancing the tax net.
FBR Chairman Shabbar Zaidi said that they would first bring the industrial consumers and then commercial in the tax net. “No change has been made in one-day notice to freeze an account,” he declared.
He said that all industrial consumers of gas and electricity will have to be registered in the amnesty scheme. “Legislation will be made after July 1,” he said.
The FBR chairman said that people’s accounts are being frozen without serving them notice. “In Pakistan, 100,000 companies are registered with Securities and Exchange Commission of Pakistan (SECP). There are only 50,000 companies are filers,” he said, adding that he had asked the SECP chairman to expel non-filer companies.