‘Scheme to promote tax compliance culture’
ISLAMABAD: The voluntary tax filing scheme would help simplifying the tax system, reduce the tax ratio, enhance tax compliance culture by broadening the tax base and also help to enhance revenue collection in the country.
This was stated by Federal Board of Revenue (FBR) Chairman Nisar Muhammad Khan while addressing a ceremony held to launch “Voluntary Tax Filing Scheme” aiming at enhancing tax compliance culture in the country. He informed that during last two years, national economy has madesignificant progress in different sectors and macro economic indicators were showing upward growth.
He said two years ago, the economy was growing at a nominal rate of 2.2% with widening fiscal deficits of 8.8% with an average 3% revenue growth per annum. There was no culture of reward for fillers besides a long saturatory regulatory orders (SROs), which was harming the national economy and slowing down the pace of economic development, he remarked.
He said that government had introduced several reform measures, facilitating the traders by introducing the friendly tax polices and announcing special incentives to promote the tax compliance and broadening the tax base of the country.
He said that due to these reforms policies and measures, tax to GDP witnessed about 9% growth, whereas the numbers of tax filers has crossed one million mark and it would be enhanced further.
The FBR chairman said that the government had abolished SRO regime for saving Rs 223 billion and delegated the powers to the parliament for issuing the SROs. He informed that all relevant stakeholders were take onboard including the representatives of trader bodies of the country for bridging the communication gap between the traders and tax collecting authorities.