Lahore: Financial advisor Hafeez Sheikh says the basic philosophy of the government is to collect taxes and we have to collect taxes in a good way without harassment.
Addressing the Lahore Chamber, Hafeez Sheikh said that the FB is striving to achieve transparency in the articulation system, the tax system is being automated and the auditing system is computerized, the 1.7% sales tax will be audited while you try to audit fewer people.
He said that the basic philosophy of the government is to collect taxes, we want taxes to be collected in such a way that there is no undue hardship for entrepreneurs, we have to collect taxes in a good way without harassment, there must be complaints in the past. Refunds are not being granted, but refunds of Rs 240 billion have been granted, which is double the previous year. Taxpayer refunds withheld since 2013 will be paid immediately.
The financial advisor said that taxes on raw materials were reduced to zero, despite the difficult conditions, the tenth maintained subsidies to industries, the government was granting subsidies to the electricity and gas industries, and it was also giving subsidies to loans.
Hafeez Sheikh further said that the business community and the government have to work together, we will formulate policies that will facilitate the business community, immediate measures have been taken to improve the economy, and no new taxes have been imposed on the budget.
He said the FBR and the business community must work together. The FBR has made two important decisions. The agency wants the tax system to be transparent. The FBR has decided to automate the audit system. Tax audits are not under the control of any official.
The financial advisor said that if people with status paid taxes, they wouldn't have to communicate with other people.
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