FBR Chairman Highlights Tax Filing Issues Among Wealthy, FPCCI Calls for Tax Reform Collaboration
Chairman of the Federal Board of Revenue (FBR), Rashid Mahmood Langrial, highlighted concerns over tax compliance, noting that even the wealthiest 5 percent of Pakistan’s population are not filing taxes. Addressing a gathering at the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) headquarters in Karachi, Langrial acknowledged the concerns of trade and industry representatives. He emphasized that FPCCI’s demand to focus on tax evaders instead of compliant taxpayers is valid, suggesting that over-reliance on debt to manage finances is not sustainable for Pakistan’s economy.
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FBR and FPCCI discuss comprehensive taxation reforms, urge targeted approaches to address tax evasion and boost Pakistan’s economic growth.
Atif Ikram Sheikh, President of FPCCI, affirmed that both FPCCI and FBR have committed to collaboration on a taxation reform agenda. He emphasized the importance of revenue generation for Pakistan’s economic stability and noted that reforms should be approached with inclusivity and practicality. Sheikh reiterated that broadening the tax base, simplifying the system, and rationalizing tax rates are essential to building a sustainable taxation framework. FPCCI also stressed the importance of incentivizing tax culture across Pakistan.
Senior Vice President of FPCCI, Saquib Fayyaz Magoon, shared concerns over the recent Finance Bill, which he said undermines business confidence. Highlighting issues with abrupt policy changes affecting exporters and challenges with the Tajir Dost Scheme (TDS), Magoon called for more effective communication between FBR and stakeholders. He also emphasized the need for reforms in the Export Finance Scheme (EFS) to simplify the process and protect EPZ investors, arguing that stability in tax policies is crucial for growth and investor confidence in Pakistan’s economy.
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