KARACHI: Various strategies to broaden the tax base were mulled at the Institute of Chartered Accountants of Pakistan (ICAP) during a group discussion by the Southern Regional Committee and Taxation Committee of the ICAP on anomalies in income tax, sales tax and excise laws.
An ICAP statement here on Friday said that the members from taxation committee proposed different strategies in this connection that would be suggested to Federal Board of Revenue (FBR) after finalisation.
The ICAP Taxation Committee Chairman, Saqib Masood, considered new vehicle buyers property buyers etc should be tapped to broaden the net tax base.
Bringing the consumer affording such high cost assets into the tax base would be advantageous for taxation authorities.
He observed the consumer maintaining bank accounts to a certain limit could also be brought into the tax base.
Moreover, data banks could be established to bring all taxpayers at single platform.
He said it was the time only to bring new consumers in the tax base and make them file yearly returns, the correct payment of tax or its audit is the next step.
He said every taxpayer should be facilitated by the government to keep them filing returns every year.
He said there should be a single number allowed for all national identity card holders, income tax payers, passport holders etc to check their status and access them in the quickest way.
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