3
ISLAMABAD: The Federal Board of Revenue has asked the Tax Advisory Council to come up with new revenue measures for the next budget 2014-15.
All members of the newly-constituted council have been asked to firm up their proposals in the next couple of weeks regarding increasing the tax-to-GDP ratio, improving tax compliance and increasing the revenue collection.
This would help the FBR get an input on tax policy issues, enabling it to adopt a pluralistic view representing divergent interest groups, and at the same time enhancing tax revenues.
Read more
On DawnNews
Comments (3) Closed
Mar 26, 2014 11:48am
Invite local banks to set up POS machines free of cost at all shopkeepers and arrange daily sales tax collection via local banks based on POS receipts generated.
Allow public to claim x% of Sales Tax back from the any local bank branch encouraging public to demand POS slip for their purchases.
Next step, from the funds collected, spend y% back on the locality from where it is collected and help restructure businesses in a manner to avoid unnatural competition in residential areas and even distribution of each type of shop based on the population density.
FBR, seriously ponder upon this suggestion, you will turn each constituency into self financed and contributing way more to the center than you might have expected.
Involve banks, allow them to earn a float income for 10 days on their daily sales tax collection and they will setup the entire mechanism for free.
Recommend
0
Mar 26, 2014 11:49am
Where this Tax Advisory Council can be reached, I would like to personally meet and advise them on some proposals.
Recommend
0
Mar 26, 2014 11:43pm
No need to introduce any further laws, we can achieved double targets only and only and only IF massive regular corruption in FBR is tackled. If revenue collectors only attend towards filling their own pockets rather than country's, then sorry to say whatever reform may come situation will remain the same. We need honest tax machinery which is corruption free.
Recommend
0
