KARACHI: The government plans to impose new taxes in the coming budget in an attempt to expand the tax base, said Secretary Commerce Zafar Mehmood here on Saturday.
Pakistan has the lowest tax-to-GDP ratio and the state cannot be run on such meager resources, Mehmood said while addressing businessmen at the Karachi Chambers of Commerce & Industry (KCCI). The tax net has to be increased systematically and new sectors should be brought under taxation, he added.
ìThe KCCI should take the initiative to help the government to highlight sectors, which are under-taxed or not taxed at all.î
He said it was unfortunate that various segments of the business community were continuously urging the government not to increase the tax net.
However, he said that to run state affairs, tax ratio needs to be increased. There are several potential sectors, which are not under the tax net, he added.
The KCCI representative discussed various issues facing the business community including energy shortage and high power tariff. They also raised the issue of the misuse of Afghan Transit Trade Agreement by Afghan businessmen.
Source: http://www.thenews.com.pk/daily_detail.asp?id=232405
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