The Friends of Economic and Business Reforms (FEBR) has expressed its hope that the new chairman of the Federal Board of Revenue would introduce novel strategy to solve business community' problems, while creating new avenues for revenue generation rather than targeting the people who are already suffering due to high rate
Lahore (Pakistan Point News / Online - 08th May, 2019) The Friends of Economic and Business Reforms (FEBR) has expressed its hope that the new chairman of the Federal board of Revenue would introduce novel strategy to solve business community' problems, while creating new avenues for revenue generation rather than targeting the people who are already suffering due to high rate of sales tax, income tax and Custom duties.FEBR President Kashif Anwar, while congratulating Syed Shabbar Zaidi on his appointment as the FBR Chairman, hailed the decision of the government for bringing a professional person on such a vibrant post to steer the country out of the challenges being confronted by the FBR.
He hoped that the new chairman would take long as well as short-term measures to gradually enhance Tax-to-GDP ratio.He said that people had lost trust in the tax collection system, as they have a trust deficit with the FBR and the tax collection system and the new chief has to bridge this trust gap. He also stressed that the issue of fixing Pakistan's revenues was a matter of the country's survival.He said that tax-to-GDP ratio is the mother of all economic ills which can be controlled by resolving other issues like higher tax rates, tax evasion, thin tax-base and present low revenue shortfall of about Rs485 billion by June 2019.\
