ISLAMABAD: President, Islamabad Chamber of Commerce and Industry (ICCI) Muzzamil Hussain Sabri on Friday said that business community supports documented economy and wants to pay taxes because no economy could develop without tax revenue.
While addressing a meeting at Islamabad Chamber of Commerce and Industry (ICCI),Muzzamil H.Sabri expressed concerns over the complicated e-filing system of tax returns and called upon the Federal Board of Revenue (FBR) to simplify it in order to make it more user-friendly and easier for taxpayers, according to a press release issued.
He said the prevailing e-filing system needs to be further simplified as it requires considerable time and effort to provide all required details.
President ICCI said the system is particularly difficult for small traders who are not well computer literate and they have to hire the services of experts for preparing and e-filing of their tax returns due to which it imposes extra cost on them.
He said the system is also not easily understandable to many taxpayers.
He added that FBR should arrange more consultative process and launch massive awareness campaigns to educate the maximum number of taxpayers about the system.
Muzzamil Sabri said due to its complicated nature, the current e-filing system also creates hurdles in broadening the tax net and proves costly as for the tax department also because tax officials have to spend lot of time and effort in auditing the detailed tax returns.
He was of the view that a simplified and user-friendly e-filing system would reduce costs significantly both for taxpayers and the tax department and would lead to expansion in tax base and tax revenue for the country.
Therefore, government should make utmost efforts to remove all unnecessary requirements from e-filing system and make it simple and easier for taxpayers to promote the formal economy.
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