Minister for Finance, Taimur Salim Khan Jhagra has said that Khyber Pakhtunkhwa government is planning the merger of all provincial taxes, simplifying other rules and procedures to ensure ease of doing business in the province
Peshawar (Pakistan Point News / Online - 10th October, 2019) Minister for Finance, Taimur Salim Khan Jhagra has said that Khyber Pakhtunkhwa government is planning the merger of all provincial taxes, simplifying other rules and procedures to ensure ease of doing business in the province.He expressed these views while chairing the meeting of Advisory Council of Young Business Leaders (ACYBL) here at Peshawar.The aim and objective of the meeting was to discuss simplification of taxes on different sectors and to explore potential contribution among the young business leaders of the province that can be made to the economic growth of Khyber Pakhtunkhwa.
On the occasion members of the council highlighted the issues being faced by the business community and investors in KP and also suggested their solutions. They also share various proposals for implification of taxation policy and Ease of Doing Business in the province.Minister Finance suggested that the council members should list down things which they need to do on priority and should have a structuredapproach towards meeting those objectives.
Taimur Saleem Jhagra said expectations of local and foreign investments cannot be met unless we concentrate on removing irritants in our tax system providing a level playing field for all, ensuring ease of doing business and training our talent in skills and innovations.He said devising an efficient tax model for rapid economic growth requires an analytical study of all the irritants in tax codes, procedures and implementation processes. The main irritants arehighhandedness, corruption and unprecedented high level of maladministration in tax apparatuses both at Federal and provincial levels.
We need research and public debate for suggesting solutions toremedy the situation and promote taxation and business growth attracting domestic and foreign investment and creating much-needed jobs,he added.Devising holistic tax reforms will play vital role in simplification and harmonisation of provincial tax regime and creating Ease of doing business for more investment and economic buoyancy, the ministerconcluded.
