ISLAMABAD - Finance Minister Senator Mohammad Ishaq Dar said on Sunday the tax reform process was being undertaken after 30 years aiming at to tax the privileged and relieve the masses.
Chairing a meeting to review the budgetary proposals presented by the Federal Bureau of Revenue (FBR), the minister said, ”We want to take forward the reform process in the collection of different taxes.” The reform process was being undertaken after almost 30 years and the broad principle, in this exercise, would be to tax the privileged and endowed and relieve the masses, he added.
The minister said the suggestions given by the business community in Saturday’s grand consultative process would be incorporated in the new budget as “we acknowledge the contribution of the business community in the development of the country.”
He directed the FBR officials to suggest measures, which could be helpful in solving the issue of major sales tax refunds and introduce new schemes to help people file their tax returns without difficulties and misrepresentation.
Voluntary tax payment should be incentivized and facilitated, he added. The minister further directed the tax officials to improve, simplify and consolidate various schemes so that the exports in the country could thrive and “we could benefit from the GSP plus status recently awarded to Pakistan.”
FBR Chairman Tariq Bajwa discussed various tax proposals in the consultative session. Bajwa said the FBR was working with utmost efficiency under the directions of the Finance Minister to improve the system of tax collection by simplifying schemes, balancing controls and facilitation, encouraging sectoral competitiveness and efficiencies. The FBR was also working out a plan to reduce the discretionary powers of its officials to ensure transparency of the tax collection system, he added.