ISLAMABAD   -    National Assembly Standing Committee on Finance and Revenue has expressed concern over the increasing percentage of taxes. The meeting of the Standing Committee on Finance and Revenue was held Friday, in the Parliament House, Islamabad, under the chairmanship of Syed Naveed Qamar, MNA/chair. The chairman Federal Board of Revenue (FBR) presented an overview of the revenue collections, FBR efforts to raise revenue, in-direct and direct taxes showing advanced IT, and pre-deducted taxes. He presented a breakdown of revenue growth factors, including inflation, economic growth, and additional taxation measures.

The Committee discussed the issues of income tax and its impact on the economy and expressed concern about the tax effort and the increasing percentage of taxes. The conversation also touched upon the practice of withholding taxes and the impact of taxes on different sectors such as power companies, real estate, property market, remittances, and flour mills. The Committee emphasized the need for transparency and accountability in the department. The chairman FBR replied to a number of questions/queries of the chair and members of the Committee. The meeting was attended by Omar Ayub Khan, Bilal Azhar Kayani (on Zoom), Rana Iradat Sharif Khan, Waseem Qadir, Kesoo Mal Kheal Das, Dr. Mirza Ikhtiar Baig, Dr Nafisa Shah, Arshad Abdullah Vohra, Muhammad Mobeen Arif (on Zoom), Usama Ali Mela, Muhammad Ali Sarfraz, and Ms Shahida Begum, MNAs. The meeting was also attended by chairman FBR, Additional Secretary Finance along with senior officers of the Ministry of Finance and Revenue.