TRADE & ECONOMY
Chairman FBR Malik Amjad Zubair Discusses Taxation Measures at National Assembly Standing Committee Meeting
Chairman of the Federal Board of Revenue (FBR), Malik Amjad Zubair Tawana, addressed the Standing Committee on Finance of the National Assembly, highlighting the government's approach to taxation and efforts to broaden the tax base.
During the meeting chaired by Syed Naveed Qamar, Chairman FBR Malik Amjad Zubair expressed reluctance towards imposing heavy income taxes on the salaried class. He emphasized that efforts were made to safeguard sectors such as agriculture, food, salaries, and exports, but taxation measures were deemed necessary.
"The procedure of advance tax is a global practice," Chairman FBR stated in response to concerns raised about the increase in withholding taxes, acknowledging the impact on taxpayers.
Chairman FBR highlighted the progress in tax compliance, noting an increase in tax filers from 52 lakh last year to 61 lakh this year. He projected an addition of 15 lakh more tax filers by the end of the current fiscal year.
Regarding non-filers, Chairman FBR informed the committee that 2.4 lakh non-filers have been identified, including 1.8 lakh who have now filed tax returns. An additional 6 lakh non-filers were identified through their transactions involving property and vehicles.
Chairman FBR also announced significant strides in FBR's digital transformation, with Prime Minister's recent approval for end-to-end digitization of FBR processes aimed at enhancing efficiency and transparency.
The meeting underscored ongoing efforts by the government to streamline tax policies and administration in Pakistan, amidst evolving economic challenges.