Business

Efforts to support taxpayers praised


LAHORE:

The American Business Council (ABC) of Pakistan has appreciated the efforts of the government to facilitate taxpayers, ameliorate ease of doing business and incentivise digitisation of the economy. During a meeting with Federal Minister of Finance Shaukat Tarin, Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood and Federal Board of Revenue (FBR) Chairman Asim Ahmed, the council noted that the government had incorporated policy recommendations into the federal budget 2021-22, focusing on broadening of tax base, removal of tax distortions and ease of doing business. Government officials appreciated the efforts and valuable input of the council and incorporated ABC’s proposals regarding reduction in turnover tax from 1.5% to 1.25%, sales tax collection at the time of advance, reduction in withholding tax on distributors from 2% to 0.25%, withdrawal of FED on fruit juices, syrups, squashes, water and water containing added sugar for sweetening purposes and removal of FED on MDRportion of digital payment transactions.

Published in The Express Tribune, July 14th, 2021.

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