Hafeez Shaikh chairs meeting on improving tax structure

ISLAMABAD: Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh chaired a meeting with Dr. Ikram-ul-Haq through a video link to discuss proposals for improving the country’s tax structure through data gathering and reconciliation mechanism.

Chairman FBR, secretary finance and ex-secretary finance Dr. Waqar Massoud Khan were also present during the meeting at the Finance Division. The adviser appreciated the work done by Dr. Ikramul- Haq for gathering data from selected markets and different chambers of commerce and Industry.

Dr. Ikram shared with the Adviser important inferences from the exercise and suggested certain techniques for data reconciliation that could improve tax collection in a more effective manner.

The adviser said the basic purpose of this exercise was to consult experts to seek suggestions and insights so that the fundamental problems of tax collection system could be effectively addressed.

Dr Shaikh said as the government was preparing the next budget, we should be more vigilant, practical and analyze the opportunities and challenges offered by the current environment.

“The government is ready to listen to all stakeholders to prepare a budget, which is according to the need of the prevailing economic circumstances and innovative in providing solutions to the structural problems of the economy,” he said.

He asked the expert to firm up his proposals in a concise and doable manner and share the draft as early as possible with the ministry so that these proposals could be well incorporated in the upcoming budget. He also directed the FBR to collect data through multiple sources that may be best used for effective budget making exercise.