Pakistan News

Current tax system is a serious threat to national economy, Said Shabbar Zaidi

ISLAMABAD: Federal Board of Revenue (FBR) chairman Shabbar Zaidi informed in a letter written to Prime Minister that current tax system is a serious threat to national economy.

 

FBR chairman mentioned in the letter that only one per cent of the filers are bearing weight of the entire state. Majority of businessmen is not ready to join the tax system, he added.

 

Shabbar Zaidi asserted that current tax system is not sustainable for future generations. The tax recovery system is collecting tax less than 10% of GDP, while tax is being collected through the direct taxes.

 

The letter stated that businessmen are not keen to be a part of tax system as out of 220 million of population, less than 2 million people pay return taxes.

 

He also expressed that the 90 per cent of 3.1 million traders having commercial connections of electricity are outside the tax system.

 

Earlier, PM Imran posted on Facebook that no country can serve its people if they don’t pay tax. The government is unable to construct hospitals, schools and basic infrastructure for the masses as they are not paying the tax, he added.

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