ISLAMABAD: Federal Finance Minister Ishaq Dar has directed the Tax Reforms Commission (TRC) to finalise realistic recommendations on top priority for sharing these with all the stakeholders.
“We want to promote tax culture in the country and wish to broaden the tax net and the government wants to ensure improvement in tax-to-GDP ratio. There are high hopes in the commission to suggest measures for ensuring equitable taxation as well as enhancement in tax-to-GDP ratio,” Dar hoped while chairing a meeting of TRC members. FBR Chairman Tariq Bajwa was also present in the meeting.
The government constituted TRC last month and mandated it to finalise proposals within 130 days. After getting an input from stakeholders, these proposals will be placed before the parliament before being incorporated in the next budget. He called upon the TRC to put up suggestions for devising a proper appellate system to effectively dispose of litigation cases. The litmus test of the recommendations would be the implementation in the short run and increase in the revenue in the medium term, he said. He urged the TRC members to come up with realistic suggestions which should facilitate tax-payers and give a client-friendly system with complete transparency.