Various strategies to broaden the tax base were discussed 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.
Members from Taxation Committee proposed different strategies in this connection that would be suggested to Federal Board of Revenue (FBR) after finalisation. 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 make all taxpayers at single platform. He said that every taxpayer should be facilitated by the government to keep them filing returns every year. 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, he added.-PR