Commenting on the newly announced Amnesty Scheme, Shabbir Hussain Chawla, President Faisalabad Chamber of Commerce & Industry (FCCI) said that if the ultimate objective of Amnesty scheme is to further expand the tax net of the country then it is alright as in this case it will not only lessen burden on the existing taxpayers but also help government to get additional revenue to undertake its development agenda.
He further said that if its objective is to favour a specific person or group then it would prove fatal for the national economy in addition to promoting culture of favouritism and corruption. Chawla expressed concern over introducing one after another tax amnesty schemes which will certainly discouraged new tax payers to come into the tax fold.
"In this case, most of the businessmen will prefer to pay only 5% to legalize their black money after every 5 years through such amnesty schemes instead of regularly paying 30% tax on their income. He said that government should discourage tax amnesty schemes in order to promote healthy tax culture instead of opening backdoors to legalize black money after every 5 years.
"However, if it becomes imperative, even then government should add a clause that any person who has once benefited from an amnesty scheme would not be entitled to get benefits from any such scheme in future", he added.
Comments
Comments are closed for this article.