Reforms to promote tax culture demanded

RAWALPINDI: General Secretary of RECA Adil Nawaz Bhatti has said that without reducing the interest rate, the dream of driving the economic wheel in the country will not be fulfilled.

Tax culture has to be promoted in the country for which tax reforms have to be brought. Budget 23-24 did not introduce any incentives for filers, says a press release.

Adil Bhatti said that a significant reduction in withholding tax is necessary for the filers to attract non-filers to the tax net. 100% increase in withholding tax on non-filer is unfair. 0.6% tax on cash withdrawal from banks is tantamount to cruelty to the poor man. It needs to be reduced. The package announced for overseas Pakistanis is incomplete. The $100,000 per year restriction should also be removed or significantly increase the limit, he added.