13.2 C
Perth
August 17, 2019
Image default
Business Pakistan Top Stories

Numbers of Tax Returns’ Filers Increased by 30pc this Year: Hamad Azhar

ISLAMABAD: State Minister for Finance and Revenue Hammad Azhar has said that the details of tax returns filed till yesterday showed a 30 percent increase as compared to the returns filed during previous year.

Addressing a press conference here the minister said that the increase in the numbers of tax filers this year shows the trust the people and traders have in the incumbent government.

Read More…IMF Asks Govt to Levy More Taxes for Raising Tax Revenue

He added that due to Saturday being a non-working day, therefore, as per procedure, Tax Returns and tax dues will also be allowed to be submitted on Monday, December 17, 2018.

He said that the government crackdown on non-filers and measures to facilitate the traders have resulted in increase in filing of tax returns by the taxpayers. 

The Minister said that Pakistan had a complex and complicated tax system which will be simplified in the next fiscal budget.

He also announced to get all the tax laws translated into urdu for the better understanding of the laws by the taxpayers.

Azhar said that the Prime Minister was yesterday given a detailed briefing on the tax collection system, adding that the Federal Board of Revenue (FBR) will be made a business-friendly organisation.

He added that the government was working on a plan to bring reforms in the FBR’s system. He informed that tax recovery cases are pending against 35 thousand defaulters while cases are being instituted against another 20 thousands.

He informed that this year he had paid over 10 million in taxes, adding that his tax returns of previous years were available on internet and social media.

Regarding the rupee devaluation, he said that Finance Minister was informed about the devaluation prior to the decision.