Sunday September 26, 2021

Tax evasion

July 31, 2021

Tax evasion is battering Pakistan’s economy and is preventing the nation from attaining its full potential. The Federal Board of Revenue (FBR), the body responsible for tax collection from individuals and the commercial sector, has tried its best to control this menace but has miserably failed so far. If the FBR were to succeed in having a proper track and trace system installed in various industries, it would help the government in stamping out the menace of corruption through tax evasion to a great extent. What is needed is transparency in the manner in which a good track and trace system is selected and installed in the industries which are known to evade taxes on a mass scale.

Attyab Shayan Zaman Khan

Karachi