Chairman Pakistan Hi Tech Hybrid Seed Association (PHHSA), Shahzad Ali Malik Sunday said to build tax capacity, governments would urgently need to take a holistic and institution-based approach with focus on leveraging core domestic tax policies.
Talking to a delegation of industrialists here, he called upon the government to implement bold reform plans and focus on tax base broadening through the rationalization of tax expenditures, more neutral taxation of capital income, and better use of taxes.
Shahzad said this multi-pronged approach, over the long term, could balance equity and efficiency considerations.
He said government must improve the design and administration of core domestic taxes—value-added taxes, excises, income taxes, and corporate income taxes.
The chairman said revenue in low-income countries, for instance, could be doubled by limiting preferential treatments and improving compliance without increasing standard tax rates. The widespread adoption of digital technologies would result in higher revenue collection and narrow compliance gaps,he added.
He urged the government would prioritize and coordinate reforms carefully across the government’s agencies as the broader institutional context matters.
Read Full Story: https://news.google.com/rss/articles/CBMiQWh0dHBzOi8vcGFrb2JzZXJ2ZXIubmV0L2NoYWlybWFuLXBoaHNhLWZvci1idWlsZGluZy10YXgtY2FwYWNpdHkv0gEA?oc=5
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.