PM Imran Khan orders massive tax reforms

PM Imran Khan orders massive tax reforms

ISLAMABAD: The federal government has decided to bring long-term tax reforms.

The tax department has to prioritise the annual targets while focusing on medium to long-term measures and structural reforms to address existing issues in processes and mechanism.

In the first phase, the federal cabinet has given the approval to separate policy and administration matters.

Sources said that the government would introduce the Tax Policy Board that will consist of federal ministers related to commerce, finance, economic affairs along with parliamentarians and tax experts.

On the other hand, the government in coming days is also likely to establish Tax Policy Unit in Ministry of Finance (MoF) consisting of a small group of economists and tax experts, who will act in advisory capacity to the government.

The Imran Khan led government is also considering introducing technology-based solutions for the identification of tax evasions and enhance transparency.