Expanding tax net: FBR to further fine-tune budget proposals

ISLAMABAD: Federal Board of Revenue (FBR) considering budget proposals is taking appropriate measures with the objective to broaden the tax base and encourage documentation of economy. 

Briefing Finance Minister Senator Ishaq Dar at a review budget proposals meeting chairman FBR said all budget proposals in this regard would be considered with a view to enhance tax base and government income.

Dar considered proposals on expanding the tax net and directed the officials to further fine-tune these proposals.

He underlined they have to work with dedication for the uplift of country and the taxpayers should be facilitated by simplifying tax procedures and the overall economic vision should be roped in the budgetary proposals.

Dr Waqar Masood Finance Secretary, Rana Assad Amin adviser to Finance Ministry and senior officials of the Finance Ministry and FBR officials attended the meeting. Meanwhile, a team of Swedish Parliament and Finance Minister Senator Ishaq Dar discussed matters of mutual interest with special focus on enhancing trade and economic relations between Pakistan and Sweden.

Per Westerberg Speaker of the Swedish Parliament along with a high- powered delegation briefed Dar Sweden has unique relations with Pakistan and provided great support at multilateral forums to Pakistan.

He informed Dar Europe was opening up trade with the world and we would like to enhance our economic and trade relations with Pakistan.

He said it would be a win-win situation for both the countries and informed he was the first Speaker of the Swedish Parliament to visit Pakistan to explore possibilities of cooperation between the two countries.

Dar informed the visiting delegation the new government was facing serious economic challenges and macro-economic imbalances when it came to power. He said the economic policies pursued during the last 10 months by the government of Pakistan have started producing positive impact on the overall economy of the country.

He informed all the economic indicators now reflected improvements and growth was going up and the inflation was in single digit.

He said with the successful launch of euro bond in the international market and transparent auction of 3G/4G Spectrum, the confidence of international investors in Pakistan was overwhelming. He informed the Speaker Pakistan was also backing in business with World Bank and Asian Development Bank.

The policies of the government are aimed at facilitating foreign direct investment in mega projects, he added.

Dar said there was a keen desire to further deepen the existing trade and economic relations.

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