Asif said that trend of tax evasion and under invoicing was adversely damaging the national economy and this practice is at its peak. A large number of people intentionally avoid their due taxes which is a big question for the tax collectors and they were ignoring such people since long, he said. The Minister observed that privileged class was enjoying the benefits of tax evasion and particularly people engaged with transaction trade adding that this practice is creating serious issues for the national economy.
Emphasising the need of removing the fundamental flaws in existing tax system and activating the FBR enabling it to recover the due taxes he added that this step should be taken immediately.
The Minister said that notices of tax recovery were issued by the FBR for the recovery of Rs 112 billion but unfortunately the result was zero, adding that high-ups of FBR were working across the country and their efficiency is at lowest ebb. It was the responsibility of government functionaries to take effective steps for the recovery of due taxes from the people involved in tax evasion and under invoicing he said. Earlier newly elected President STBA Shahid Mehmood presented the address of welcome. The Minister earlier administered the oath to the newly-elected office- bearers of Sialkot Tax Bar Association. The ceremony was attend by the members of Sialkot District Bar, business community, Journalists, government officers and elected representatives.
Copyright Business Recorder, 2017