More sectors to be brought under tax net: Maiza
STAFF REPORT LAHORE—Pakistan Muslim League-N MNA Maiza Hameed has said the government discouraged the trend of allocating resources in head of ‘blocked allocations’ and reduced the percentage of blocked allocations in the previous budget and would further decrease it in the forthcoming budget, especially after the 18th amendment of the constitution, which enabled the provinces to collect GST on services by themselves.
During the last ten months of the ongoing fiscal year, she said around 35 percent revenue growth was witnessed by the Punjab Revenue Authority on GST on services collected from 59 sectors in the province. Other than this, she added the number of registered taxpayers has also doubled, reaching to about 22,000 during the same period. She pointed out that earlier, when the Federal Board of Revenue collected GST on services, from only 5 to 7 sectors were taxed, while the provincial government has broadened the tax net by including 59 sectors. She hinted that more sectors would be brought in the tax net in the future, says a statement.
“The government believes in broadening the tax net by adding the untaxed, under taxed, and those evading the taxes into the tax net, which would not only increase the government revenue but would also do justice with the existing taxpayers,” she added. The MNA said that the government was focused to revamp the entire tax administration by automating it, easing the tax payment system and creating tax awareness among the masses so they could pay taxes with relative comfort.
Talking about the government priorities in the forthcoming budget, she said health, education, clean drinking water, agriculture and infrastructure development are the key areas that would be the deliberated by the government in the forthcoming budget.