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Pakistan targets 700,000 tax evaders to boost economy
Pakistan will focus on 700,000 tax evaders who possess properties and frequently travel abroad but pay no tax, Finance Minister Abdul Hafeez Shaikh has said.
"We will go after these 700,000 evaders and collect taxes from them as the country cannot progress without tax collection," Shaikh said at a conference here.
Shaikh said the government had initiated reforms in the Federal Board of Revenue (FBR) and these were also producing results in the form of higher tax collections.
He said due to prudent economic reforms of the government, specially in the FBR, Rs640 billion (Dh43.76 billion) has been realised during five months of the current financial year which is 28 per cent higher than that of the last fiscal year, reported Associated Press of Pakistan.
He added that the FBR paid refunds of Rs27 billion to the taxpayers in 2010 while in 2011 Rs52 billion had been refunded to them.
The minister urged the affluent to come forward and play their vital role by paying due taxes and participating in the nation- building process.
He said the government has initiated an economic stabilisation programme and the economy was once again put on the path to recovery. He said due to devastating floods last year and high international oil prices, Pakistan's economy suffered heavily.
gulfnews : Government targets 700,000 tax evaders to boost economy
Pakistan will focus on 700,000 tax evaders who possess properties and frequently travel abroad but pay no tax, Finance Minister Abdul Hafeez Shaikh has said.
"We will go after these 700,000 evaders and collect taxes from them as the country cannot progress without tax collection," Shaikh said at a conference here.
Shaikh said the government had initiated reforms in the Federal Board of Revenue (FBR) and these were also producing results in the form of higher tax collections.
He said due to prudent economic reforms of the government, specially in the FBR, Rs640 billion (Dh43.76 billion) has been realised during five months of the current financial year which is 28 per cent higher than that of the last fiscal year, reported Associated Press of Pakistan.
He added that the FBR paid refunds of Rs27 billion to the taxpayers in 2010 while in 2011 Rs52 billion had been refunded to them.
The minister urged the affluent to come forward and play their vital role by paying due taxes and participating in the nation- building process.
He said the government has initiated an economic stabilisation programme and the economy was once again put on the path to recovery. He said due to devastating floods last year and high international oil prices, Pakistan's economy suffered heavily.
gulfnews : Government targets 700,000 tax evaders to boost economy
