More incentives should be provided to tax payers says PM

Prime Minister PM Imran Khan has said that the taxpayers of the country deserve to be praised and more incentives should be provided to them in the system.

He was presiding over a briefing on tax reforms in Islamabad on Sunday. The meeting was informed that during the first six months of the current fiscal year, tax revenue receipts have crossed 2205 billion rupees.

Similarly, the number of taxpayers has increased and positive results have been witnessed of several reforms in the system.

The Prime Minister appreciated the entire team of the government and FBR for initiatives and work.

The meeting was informed that tax form for small and medium enterprises has been simplified from five pages to a single page.

About sales tax, the prime minister was informed that there is an increase in revenue collection from this system due to the link of point of sale to directly with FBR.

Prime Minister Imran Khan earlier announced that the fixed tax regime for the construction sector that was introduced earlier this year had been extended to Dec 31, 2021.

“I want to give [the construction sector] good news for the New Year. We have extended the fixed tax regime to Dec 31, 2021,” the PM said.

He said this had been a big demand from the construction industry which was why they were given an extra year.

Imran Khan said he was very happy to announce that projects worth Rs186 billion have been registered with the FBR (Federal Board of Revenue) under the incentives we had given for construction in April.