ABAD pins hopes on new FBR chair

By our correspondent

KARACHI: Association of Builders and Developers of Pakistan (ABAD) on Tuesday hoped the new chairman Federal Board of Revenue (FBR) would introduce new strategy to solve business community’ problems, while creating new venues for collection rather than taxing the overtaxed payers.

“The federal government has taken the right decision by appointing chartered accountant and tax expert Shabbar Zaidi as chairman FBR,” Muhammad Hassan Bakshi, chairman ABAD, and other officials said in a joint statement.

“This decision will have good impact on revenue generation and help in finding solutions of tax-related problem as Zaidi is well-known in business circles as well as bureaucracy as a highly sought-after tax expert.”

The ABAD officials cited that in a recently interview Zaidi had vowed to try his best to increase tax to GDP ratio from 13 percent to 26 percent.

Stressing that widening the tax net was critical to boost revenue collection, ABAD officials demanded of the government to announce and implement much-talked Tax Amnesty Scheme as soon as possible.