More sec­tors to be brought un­der tax net: Maiza

Pakistan Observer - - ECONOMY WATCH -

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.

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