Failure to achieve FBR tax target despite imposition of heavy taxes is worrisome: Atif Ikram Shaikh
Implementation of reforms in FBR is necessary to prevent tax evasion
ISLAMABAD ( WEB NEWS )
President Federation of Pakistan Chamber of Commerce and Industry Atif Ikram Shaikh has said that despite the implementation of heavy taxes, FBR could not achieve the tax target which is worrying. It is better to strengthen the system of checks and balances than transferring FBR officers. FPCCI offers its services to increase tax collection and is ready to give suggestions to the government.
He said that the implementation of reforms in FBR is necessary to prevent tax evasion, human intervention can be reduced by digitalization of FBR. Increasing tax rates or imposing new taxes will further increase tax evasion. The IMF has also not called for imposing new taxes.
Federation President Atif Ikram said that according to reports, FBR has a total shortfall of Rs 343 billion in tax revenues. While in the month of November, FBR could collect revenues of 852 billion rupees And the tax target for the month of November was 1003 billion rupees.