REVAMPING OF TAX COLLECTION SYSTEM BADLY

NEEDED

By Shamim Rizvi

Article Presenting By: Syed Faraz Mehdi

Disturbing Facts.

• Public Expenditures

• Financial Aid from FoDP was Dashed.

• Only 41% of Total Target achieved by FBR during July-Dec 2009.

• What is Important? Tax Collection or Increasing Tax Rates.

Weakness of System

• Increasing size of Black Economy.

• Money (Laundring)Whitening.

• Under-invoicing.

• No Tax on Land Lords.

• Failure of twin menace of tax evasion.

• Hiding the issues.

What is Important? Tax Collection or Increasing Tax Rates.

• Tax Collection Machinery.

• Corruption & Effective Control.

• To Bring Non Tax Payers into Tax Net.

• Impose Taxes on Agriculture Income Only.

• Minimize the Impact of all Negative Facts.

Revamping of Tax Collection System

Conclusion(Revamping)

• Eradication Corruption

• Checking Tax Evasion system by an Iron Hand.

• Equitable Tax Policies.

• Strong & Concrete Measures.