On Sunday, Prime Minister was notified that tax receipts had exceeded Rs. 2,205 billion during the months (July-December) of the current financial year. The increment in taxpayers was due to the recent tax-reforms by the government.
According to the PM Office public statement, Federal ministers Dr. Abdul Hafeez Shaikh, Shibli Faraz and Hammad Azhar, prime minister’s adviser Dr. Ishrat Husain, special assistant on revenue Dr. Waqar Masood, Federal Board of Revenue (FBR) chairman Javed Ghani and relevant senior officers attended the meeting that was held to review tax reforms with the Prime minister.
It was briefed to the Prime minister that the growth in the number of taxpayers is due the tax reforms. The tax collection was automated and taxpayers were being given incentives. The computerization of the tax assessment framework would improve transparency and decrease corruption and tax avoidance.
The meeting was informed that tax documents had been made far simpler for small and medium ventures by lessening its pages from five to one and sections from 200 to only 24.
The prime minister was told that the receipt of sales tax had also expanded by owing to the introduction of the immediate connection between the FBR’s system and the company through the point of retails system.