ISLAMABAD
The Islamabad Chamber of Commerce and Industry has welcomed the announcement of newly elected Prime Minister Shahid Khaqan Abbasi to widen the tax base of the country by bringing every affluent individual, including those sitting in the parliament, into the tax net in order to improve the tax revenue and ensure the better socioeconomic development of the country.
Islamabad Chamber of Commerce and Industry President Khalid Iqbal Malik, said that the announcement of new prime minister, where he quoted, “Those who do not pay tax and are living a luxurious life will have to pay tax now,” was very encouraging as ‘our’ country badly needed enhanced tax revenue to improve infrastructure and uplift living standards of its people.
He said that Pakistan has great scope to mobilise additional tax revenue.
He further informed that – as according to FBR’s own analysis – ‘our’ country has the potential to collect Rs 5500 to Rs 6000 billion, under tax revenue.
However, he wondered why no serious efforts were made so far to exploit this huge tax potential, due to which burden on existing taxpayers was increasing.
