Tax Reforms in Pakistan: "Viability of Flat Taxation reviewed
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LAHORE: (APP) The speakers at a seminar stressed the need to adopt well-consulted tax reforms which will help broaden the tax net and strengthen the national economy.
Addressing a seminar "Viability of Flat Taxation in Pakistan" organized by the Lahore Chamber of Commerce and Industry on Saturday, the speakers said as compared to traditional tax system, a flat tax was extremely simple.
They said many economies were attracted to an idea of flat tax because traditional taxation system caused reduction in economic growth.
The speakers proposed a two-tier tax appellate system to tackle issues faced by tax payers and eliminate complexities in the tax system.
LCCI President Abdul Basit said objectives of the seminar was to initiate a debate on the need of having low, flat, predictable and broad-based taxes, mainly administered through efficient tax apparatus. These features would automatically create incentives for full compliance which would result in sustained economic growth, he added.
LCCI Vice President Nasir Hameed Khan, Member FBR Rehmatullah Khn, Secretary Excise & Taxation Dr Ahmad Bilal, President Lahore Tax Bar Association Farhan Shahzad, Usman Azmat from Punjab Finance Department, President Gujranwala Chamber Saeed Ahmed, Sajid Manzoor from Sheikhupura Chamber, Commissioner RTO Lahore Aftab Alam, Dr Nasir Ghauri from Corporate RTO Lahore and other representatives of various departments were the noted speakers.
