Fin623 GDB No. 1 solution Fall 2011
Tuesday, October 25, 2011 Posted In Fin Edit ThisTotal Marks 20
Starting Date Monday, October 24, 2011
Closing Date Wednesday, October 26, 2011
Status Open
“Tax System of Pakistan”
“Tax System of Pakistan”
Question/Description
A recent research report has revealed that only (2 percent) people pay tax in Pakistan. Which measures should be taken by the legislative bodies and CBR to improve the tax revenue of Pakistan?
Solution:
A recent research report has revealed that only (2 percent) people pay tax in Pakistan. Which measures should be taken by the legislative bodies and CBR to improve the tax revenue of Pakistan?
Solution:
With the help of following measures Tax revenue can be increase:
--Relief for the taxpayers by providing concessions and rationalizing the excise tariffs, thereby creating a conducive and business-friendly environment for the taxpayers.
--Broadening of tax base by minimizing exemptions and bringing more services in the excise regime.
--Simplification of tax laws to make them easier for the taxpayers and compatible with international best practices.
-- Removal of irritants and impediments in fiscal laws and procedures.
--Reducing the cost of doing business by furthering the automation of business processes and minimizing taxpayer interface.
--Improving tax compliance through better relationship between taxpayers and tax officials as well as by introducing stronger penalties for deliberate and repeated offenses.
A recent research report has revealed that only (2 percent) people pay tax in Pakistan. Which measures should be taken by the legislative bodies and CBR to improve the tax revenue of Pakistan?
Solution:
A recent research report has revealed that only (2 percent) people pay tax in Pakistan. Which measures should be taken by the legislative bodies and CBR to improve the tax revenue of Pakistan?
Solution:
With the help of following measures Tax revenue can be increase:
--Relief for the taxpayers by providing concessions and rationalizing the excise tariffs, thereby creating a conducive and business-friendly environment for the taxpayers.
--Broadening of tax base by minimizing exemptions and bringing more services in the excise regime.
--Simplification of tax laws to make them easier for the taxpayers and compatible with international best practices.
-- Removal of irritants and impediments in fiscal laws and procedures.
--Reducing the cost of doing business by furthering the automation of business processes and minimizing taxpayer interface.
--Improving tax compliance through better relationship between taxpayers and tax officials as well as by introducing stronger penalties for deliberate and repeated offenses.
