The committee emphasizes balanced and growth-oriented measures for tax policy proposals aimed at broadening the tax base and enhancing revenue generation.
The committee reiterated the priority for balanced and growth-oriented measures that enhance revenue generation while safeguarding compliant taxpayers from additional tax burden. Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar chaired a follow-up meeting of the committee constituted by Prime Minister Shehbaz Sharif on Thursday to continue deliberations on tax policy proposals for the forthcoming budget.
The committee reviewed progress on various proposals and emphasized the need for balanced, growth-oriented measures aimed at broadening the tax base, enhancing revenue generation, and promoting investment and economic growth. The meeting was attended by Minister for Economic Affairs Ahad Cheema, SAPM Tariq Bajwa, Minister of State on Finance and Railways Bilal Azhar Kiyani, Secretary Finance, Chairman of Federal Board of Revenue, and senior officials from relevant ministries.
The committee highlighted the importance of maintaining a balanced approach that supports economic growth without imposing undue burdens on taxpayers. They stressed the need to ensure that any measures taken do not discourage compliance or lead to an increase in tax evasion.
Minister Ahad Cheema stated, "Our focus remains on implementing policies that are both fair and effective. We must strike a balance between generating necessary revenue for the government and ensuring that our citizens remain compliant with their tax obligations."
The committee also discussed ongoing efforts to improve tax administration and enforcement mechanisms. They agreed on the need to strengthen collaboration among various ministries and departments to streamline processes and reduce administrative costs.
SAPM Tariq Bajwa added, "We are committed to enhancing transparency in the tax system and ensuring that all taxpayers receive fair treatment. This will not only help us achieve our fiscal objectives but also foster a culture of trust between the government and its citizens."
The meeting concluded with an agreement on the need for continued dialogue and coordination among stakeholders involved in tax policy formulation. The committee expressed confidence that by adopting balanced, growth-oriented measures, they can effectively broaden the tax base and contribute to sustainable economic development.
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The committee reiterated the priority for balanced and growth-oriented measures that enhance revenue generation while safeguarding compliant taxpayers from additional tax burden. Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar chaired a follow-up meeting of the committee constituted by Prime Minister Shehbaz Sharif on Thursday to continue deliberations on tax policy proposals for the forthcoming budget.
The committee reviewed progress on various proposals and emphasized the need for balanced, growth-oriented measures aimed at broadening the tax base, enhancing revenue generation, and promoting investment and economic growth. The meeting was attended by Minister for Economic Affairs Ahad Cheema, SAPM Tariq Bajwa, Minister of State on Finance and Railways Bilal Azhar Kiyani, Secretary Finance, Chairman of Federal Board of Revenue, and senior officials from relevant ministries.
The committee highlighted the importance of maintaining a balanced approach that supports economic growth without imposing undue burdens on taxpayers. They stressed the need to ensure that any measures taken do not discourage compliance or lead to an increase in tax evasion.
Minister Ahad Cheema stated, "Our focus remains on implementing policies that are both fair and effective. We must strike a balance between generating necessary revenue for the government and ensuring that our citizens remain compliant with their tax obligations."
The committee also discussed ongoing efforts to improve tax administration and enforcement mechanisms. They agreed on the need to strengthen collaboration among various ministries and departments to streamline processes and reduce administrative costs.
SAPM Tariq Bajwa added, "We are committed to enhancing transparency in the tax system and ensuring that all taxpayers receive fair treatment. This will not only help us achieve our fiscal objectives but also foster a culture of trust between the government and its citizens."
The meeting concluded with an agreement on the need for continued dialogue and coordination among stakeholders involved in tax policy formulation. The committee expressed confidence that by adopting balanced, growth-oriented measures, they can effectively broaden the tax base and contribute to sustainable economic development.
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