Mian Zahid Hussain expresses concern over missed quarterly collection target by FBR

Karachi, October 10, 2016 (PPI-OT): President Pakistan Businessmen and Intellectuals Forum (PBIF), President AKIA, Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister Mian Zahid Hussain expressed concern over missed quarterly collection target by FBR.

He asked tax authorities to win confidence of Taxpayers, bridge the gulf between tax collectors and taxpayers.

Mian Zahid Hussain said that FBR has missed tax collection target by Rs70 billion at a time when exports, remittances and investment are also sliding.

Government must reform the tax administration otherwise carrying the begging bowl will be the only option to keep country running, he said.

FBR must overcome image problem to confront menace of low revenue collection as many taxpayers see FBR with suspicion which is not in the national interest.

Missed revenue collection targets contribute to underdevelopment and dependence on foreign donors that can be reversed by only bridging gulf between tax collectors and taxpayers, he said.

Mian Zahid Hussain said that industrialists feel that they pay too much of taxes while majority believe that the amount they contribute to government exchequer as tax is not properly utilised which is very discouraging.

Taxpayers want to pay for the development and not to those who waste their money which has contributed to unsatisfactory tax-to-GDP ratio.

Mian Zahid Hussain said that achieving or exceeding revenue collection targets through suppressive methods and shifting burden of taxes from rich to poor has added to the unpopularity of the tax collectors.

The situation will improve when authorities decide to introduce reforms and take tax evaders to the task.

For more information, contact:
M. A. Lodhi
Secretary General
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Karachi-75600, Pakistan
Tel: +92-21-35873691, 93-94
Fax: +92-21-35874332
Email: info@fpcci.com.pk
URL: www.fpcci.com.pk

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