Lahore: The Lahore Chamber of Commerce & Industry has urged the government to initiate tax reforms in consultation with the stakeholders as measures like attaching of accounts and SRO cultures are creating an atmosphere of distrust between the public and private sectors.
In a statement issued here, the LCCI Vice President Syed Mahmood Ghaznavi said that most of the challenges being faced by the economy are directly linked to complicated and lengthy taxation procedures.
The LCCI Vice President said that the EU states do not implement policies without due consultation of the stakeholders.
Syed Mahmood Ghaznavi said that the Lahore Chamber of Commerce and Industry believes that for the promotion of tax culture in Pakistan, the government would have to bring down the rate of the taxes besides bringing the untaxed sectors into the tax net.
He said that flaws in taxation system causing loss of billions of rupees to the national exchequer. He said that a large number of taxes and difficult taxation system is also creating troubles for the taxpayers. He said that tax reforms like developed countries could enhance the government revenue.