At present there are more than 40 types of taxes in Pakistan at the federal and provincial levels. It is the need of the hour to replace the outdated tax system and introduce a simple one-window tax system. Shaikh Imtiaz Hussain
Karachi (Staff Reporter) Pakistan Agriculture and Horticulture Forum President Shaikh Imtiaz Hussain has written a letter to Prime Minister Mian Shehbaz Sharif, urging the government to prioritize the revival of Pakistan’s economy by implementing a unified tax system. He said that the Globally now they collect only one type of tax, which covers all types at one stage, but in Pakistan there are more than 40 types of taxes at the federal and provincial levels. It is the need of the hour to replace the outdated tax system and introduce a simple one-window tax system. Shaikh Imtiaz Hussain emphasizes that the current complexity of taxes in Pakistan, with multiple different tax structures, has led to confusion among businesses and individuals. And this complexity creates fear, discourages compliance, and reduces overall contribution to the economy. To overcome these challenges, There is a need to introduce a simple tax system that will make the Value Added Tax (VAT) process more transparent, efficient and easy to understand for taxpayers. He said that there is a example of successful implementation of VAT in the UAE and European countries. Therefore in Pakistan also it will not only increase the tax net but also the country’s economy will grow rapidly. By adopting a simple tax system, Pakistan can improve its tax structure and contribute to economic development.
In the letter, Shaikh Imtiaz Hussain highlighted the need to promote large-scale industrialization for the country’s economic prosperity and said that instead of harassing businessmen or creating obstacles, government agencies should provide maximum facilities and incentives so that the country emerges on the world map as an Asian Tiger because if industrialists and traders continue to be harassed in collecting taxes and in other ways, they will shift their business to developing countries in the region, which will cause a major setback to the country’s economy. He said that the PML-N government is the only government that pays the most attention to stabilizing the economy for the country’s development. Shaikh Imtiaz Hussain said that to improve Pakistan’s economy, it is necessary to adopt a comprehensive and effective strategy in which investment in important sectors like agriculture, industry and IT should be promoted so that employment opportunities can increase Domestic production should increase while focusing on modern technology and quality products to increase exports. He said that the economy can be stabilized by eliminating corruption and establishing a transparent system. It is also important to provide interest free loans and training opportunities for small businesses and youth so that they can play a role in the development of the economy.
