Pakistan Business Forum Opposes Unconstitutional Restrictions and Urges Simplified Tax Returns
ISLAMABAD: The Pakistan Business Forum (PBF) has strongly opposed the proposed restrictions on public services for citizens who fail to file tax returns. The forum argues that this approach goes against the basic rights guaranteed by the constitution.
In a recent statement, the PBF an organization representing trade and industry across Pakistan-suggested that the tax return process should. be simplified to a one-page form. Many developing and advanced countries use such a format, and the PBF believes this would help improve tax compliance. The current complicated tax return forms, they say, are one of the main reasons why many people avoid filing taxes.
The PBF emphasized that the new tax bill be viewed against the backdrop of the constitution. It advocated a total change of the Federal Board of Revenue and an increased reliance on technology to make the tax system work.
Under the proposed Tax Laws (Amendment) Bill 2024, the government plans to limit purchasing property and automobiles above certain value limits unless a buyer can present proof of tax compliance. It is meant to widen the tax base.
However, the PBF feels that before the government legalizes these items, it should firstly make the process of filing taxes simpler The organization insists that the “non-filer” is a result .of the government’s very own inability to create an easier tax system.
PBF Vice-President Ahmad Jawad said that the forum was working on a draft for a simplified tax return form, which it would be presenting, to the government. He noted that the lengthy filing process was one reason the number of tax filers had not grown much.
The PBF also observed that any tax reforms implemented in the country must be a part of an overarching national program, similar to the “Uraan Pakistan” initiative. They warned that giving too much power in enforcing, the new laws to the tax authorities could create public unrest.
To boost the pace of economic growth, the Pakistan Business Forum considers that the key issues are some few and there is the issue of Charter of Economy. “The government will be advised for the growth in agriculture. sector.” The growth may be achieved when the agriculture, contributes 5 per cent to achieve, a GDP of 8% the forum felt.
However, the PBF reported that 2024 is going. to be a challenging year for businessmen and the public regarding high electricity bills and high interest rates. The government should at least now announce a clear and actionable economic roadmap for 2025. According to the PBF, Pakistan is no longer considered a business-friendly country, and a collective effort is required to move out of these issues.
According to the PBF, despite the country having its second IMF program in a short period, it has still not achieved an improved value of the rupee They requested that immediate steps be taken toward stabilizing the currency, for without a stronger rupee, other attempts at easing financial pressure would be in vain.
