March 22, 2019: State Minister for Revenue Hammad Azhar on Friday said that government is considering to impose fixed tax on traders to facilitate them in tax obligations and to broaden the tax net.
Talking to delegation of traders and businessmen head by President Islamabad Chamber of Commerce and Industry he said that traders should give their proposals to make fixed tax system successful.
The delegation called on the minister and discussed with him various tax issues for improving tax system of the country, a press release said.
The minister said that government wanted to improve tax system in consultation with stakeholders and business community should come up with good proposals to address the drawbacks of taxation system and to streamline it for taxpayers.
He said that traders should also give solid proposals to enhance the tax base of the country.
Speaking at the occasion, Ahmed Hassan Moughal, President ICCI urged the government for giving good incentives to traders in tax matters so that those who were out of tax system should feel motivated to come into the tax net.
He said that ICCI had floated the idea of fixed tax for traders a long time ago and it is encouraging the current government is considering it. He asked for making different categories of traders and impose fixed tax on them according to their tax paying ability.
The other members of delegation also highlighted various tax issues of traders and offered suggestions to streamline the prevailing tax system. Both sides agreed that further meetings would be held with traders on fixed tax issue.