ISLAMABAD: Adviser to Prime Minister on Finance Abdul Hafeez Shaikh has said the present government is continuing with reforms for a transparent and automated tax system.
The finance adviser was speaking at a ceremony to release tax directory for parliamentarians and highest taxpayers and to hold balloting for audit of taxpayers. FBR Chairman Javed Ghani was also present on the occasion.
Hafeez Shaikh said two committees comprising of representatives from both the FBR and business community have been constituted to address complaints against FBR and issue of refunds to facilitate the taxpayers.
He said the tax payment system is being automatised and all related processes are being computerised as well. He said that tax audits were initiated in the past but are still pending. He said 14,000 audits were conducted last year while the FBR conducted 10,000 audits this year.
The Finance Adviser said the government wants to make tax collection trouble-free for the people, particularly the business community. He said the basic objective of tax collection is to provide better basic facilities of life like potable water, health, education and infrastructure.
READ MORE: FBR releases 2018 tax directory for parliamentarians
He said no new tax was imposed on the business community in this year’s budget and subsidies were maintained for industry, particularly the export industry to minimize the cost of doing business.
Shaikh said the government refunded Rs240 billion during the last fiscal year which is double as compared with the previous year. The tax refund worth up to Rs100,000 has been cleared from 2013 till date so far, whereas refunds worth up to Rs10 million will be made in the upcoming phase.
He said the system of sales tax on exports has also been computerized and refunds can be made in 72 hours by filling a form while staying at home. He said the process income tax rebate is also being made faster.
Advisor on Finance said the government’s policies are aimed at boosting the exports to earn precious foreign exchange and said that exports and business activities increased despite the coronavirus pandemic.
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