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Abdullah formally named member of Tax Advisory Council

Abdullah formally named member of Tax Advisory Council

KARACHI: Karachi Chamber of Commerce and Industry President Abdullah Zaki will represent KCCI in the Tax Advisory Council formed by Federal Board of Revenue. The Tax Advisory Council has been formed to seek proposals on new taxation measures, provide necessary input on different tax policy matters, suggest ways and means to expand the tax base and propose legislation for making tax compliance law more effective.

According to FBR, the Council encompasses all stakeholders including chartered accountants, academia, senior tax consultants, retired senior officers of Customs & IRS, industrialists, Presidents of various Chambers of all four provinces including the Karachi Chamber. Abdullah Zaki while expressing gratitude to the government for setting-up FBR’s Tax Advisory Council, said that the government has decided to take all stakeholders on board in the policymaking process which will go a long way and help in resolving a number of tax-related issues being faced by the business community.

He said that in order to make FBR’s tax collection system more effective, it must be completely reformed in consultation with various stakeholders who have been included in the Tax Advisory Council. He hoped that the government will continue to take every stakeholder onboard and such advisory councils must also be introduced in other departments as well, which would not only help in restoring the confidence of business community but will also improve performances of various public sector departments, besides ensuring economic prosperity for the country.