Islamabad:Adviser to Prime Minister on Finance Dr Abdul Hafeez Sheikh has said that present government is continuing with reforms in tax system to make it transparent through automation.
He was speaking at a ceremony to release tax directory and hold balloting for audit of the taxpayers here on Friday. He said two committees comprising of representatives from both the Federal Board of Revenues (FBR) and business community have been constituted to address complaints against FBR and issue of refunds to facilitate the taxpayers.
He said basic objective of tax collection is to provide better basic facilities of life like potable water, health, education, and infrastructure. The Advisor on Finance said the government wants to make tax collection trouble-free for the people, particularly the business community. He said no new tax was imposed on business community in this year’s budget.
He said subsidies were maintained for industry, particularly the export industry to minimize the cost of doing business. Dr Abdul Hafeez Sheikh said the government refunded 240 billion rupees during the last fiscal year which is double as compared with previous year.
He said system of sales tax on exports has also been computerized and refund can be had in 72 hours by filling a form while sitting home. He said the process of refund of income tax is also being made faster. He said the government’s policies are aimed at boosting the exports to earn precious foreign exchange.