Wealthy non-taxpayers must be brought into tax net: Iftikhar Malik

SAARC Chamber of Commerce and Industry Vice President and Chairman United Business Group (UBG) Iftikhar Ali Malik Friday welcoming Prime Minister's plans to broaden tax base in Pakistan said wealthy and potential non-tax payers must be brought into tax net at all cost and chambers will cooperate with the government in this regard.
Talking to a Sialkot-based delegation of traders, importers and exporters led by Abdul Ghafoor Butt, Executive Member, Sialkot Chamber of Commerce and Industry here Friday, he said that ratio of tax payers in Pakistan is even less than Afghanistan which he added is point to ponder and broadening of tax net is must for strengthening of the national economy and the survival of the country.
He said that FPCCI in principle, agreed to lend helping hand to the government in this regard. He said plugging of revenue leakage and broadening of tax net will ultimately benefit the existing tax payers in terms of reduction in heavy taxation.
He said that all chambers across the country will not only resolve the issues being confronted by the traders but also convince the trading community to pay their due taxes timely. He said Prime Minister Shahid Khaqan Abbasi has assured to address all the genuine grievances of the business community on top priority and had directed all ministry and attached departments to expedite the rederssal of the problems of the traders.
"Around 1.2 million people pay taxes in Pakistan while the number of traders paying tax on electricity bills surpasses seven million, this gap can be bridged through sincere efforts backed by the government," he added.
Highlighting Prime Minister's plan to build taxpayer profiles through the National Database and Registration Authority, Iftikhar Ali Malik said earlier too, the National Database and Registration Authority has identified more than three million potential tax-payers, who have luxury houses in posh areas and multiple banks accounts and frequently visit foreign countries, but do not pay taxes. He said these efforts failed because more than half of the notices could not be delivered to the recipients.
Iftikhar Ali Malik said government should announce amnesty package across the board and bring overseer too into domain of amnesty with this precondition that money which will be declared legal through this scheme to be invested only in industrial sector.