ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI) here on Friday organized a seminar on tax compliances for corporate and non corporate tax payers.
Speaking on the occasion, Chief Commissioner Inland Revenue Regional Tax Office (RTO), Haroon Tareen said that a large number of people in the country are not paying taxes.
He said that tax laws are not as such complicated in our country and there is a greater need to promote voluntary tax compliance for increasing the tax compliance rate which would definitely improve tax-to-GDP ratio.
President ICCI, Yassar Sakhi Butt highlighted various causes of low tax revenue and urged for introducing friendly tax laws and reduction in tax rates to further enhancing tax to GDP ratio.
He also called for giving attractive incentives to high taxpayers to recognize their tax contribution, reducing interaction between tax collectors and taxpayers to improve tax compliance.
ICCI President suggested that instead of burdening the already existing taxpayers, FBR should take measures to broaden the tax base and its extremely important to bring all those sectors as well as individuals in tax net that are capable of paying tax.
Mian Muhammad Ramzan, Chairman Taxation Sub-Committee gave a presentation on basic tax compliance of income tax and sales tax for corporate and not tax payers where he explained the regular compliance requirements for corporate and non corporate tax payers.
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