ISLAMABAD: The first meeting of the National Tax Council (NTC) was held on Wednesday to harmonise taxes and reduce cost of doing business in the country.
Federal Minister for Finance and Revenue, Shaukat Tarin presided over the NTC meeting, according to press statement issued by the finance ministry. The meeting was attended by Punjab Finance Minister Makhdoom Hashim Jawan Bakht, KP Finance Minister Taimur Khan Jhagra, Balochistan Finance Minister, Sindh Secretary Finance, Sindh Board of Revenue chairman, secretary Finance Division, FBR chairman and other senior officers.
Speaking on the occasion, Tarin stressed upon the need for greater cooperation between the federal and the provincial governments in matters relating to harmonisation of general sales tax (GST).
He expressed the hope that under the NTC umbrella, both the federal and provincial governments would move towards harmonising taxes across multiple jurisdictions to facilitate businesses and reduce the cost of doing business in the country.
Tarin urged the participants to work together on the pending taxation matters so that an arrangement relating to harmonisation of GST amongt provinces and the federal government could be finalised at the earliest.
On the occasion, the Finance Secretary highlighted the TORs of NTC and the progress achieved so far whereas the FBR and respective provincial finance departments gave input on various taxation issues which came under discussion.
The provincial finance ministers welcomed the initiative and assured to move ahead under the umbrella of NTC for the betterment of the country and to build a progressive economy.
