Increased CPEC-trade flow, business activity to boost revenues: Member FBR

Member Facilitation & Taxpayers Education (FATE) Wing FBR Ms. Nausheen Javaid Amjad has said increased trade flow and greater business activity would help broaden the tax base, increase revenue collection and improve tax infrastructure along modern lines.

She made this statement while dilating on the “Challenges of Taxation in CPEC-related Projects” at a three-day seminar held at National University of Sciences & Technology (NUST) under the title “CPEC – Harnessing the Opportunities and Addressing the Challenges”. The seminar was attended by policymakers, industrialists, entrepreneurs, Chinese officials and leading academics.

In her keynote address to the seminar, Member FATE gave the audience a detailed presentation in a highly interactive session, highlighting the challenges FBR is facing and possible measures that could help build a future laced with development and inclusive economic growth for the country.

Member FATE emphasized the potential opportunities through bilateral cooperation for the region. The creation of Special Economic Zones (SEZs) will play a key role in bringing foreign investment, promoting industrial growth, job creation and improving competitiveness and efficiency of the local industry.

She stressed to bring in effective monitoring of imports and exports to minimize smuggling and pilferage through implementation of latest technology such as Radio Frequency Identification Devices (RFIDs), E-tagging along with an alarm system to notify of any anomalies in the operations process. Responsible Data Management would help in making the monitoring process more robust, ensuring that the interests of the local industry are safeguarded.

She shared that FBR has formed a Joint Tax Working Group that will work in collaboration with the Chinese side to iron out potential Tax anomalies and issues. She emphasized that in order to fully reap the benefits of CPEC, all the stakeholders have to work together to ensure that every possible facility to improve ease of doing business is made available, helping Pakistan create an enabling environment for sustained growth.

By:"Azhar jataoi"

Leave a Reply

RELATED POSTS

2
Economic Survey: Pakistan economy set to record fastest growth in 13 years
China pledges to stand by Pakistan ‘forever’
India, China to Court Each Other at Informal Summit in Bid to Re-Set Ties
Army’s telecom wing allowed 3G, 4G services trial run in GB
Dawood Hercules’ profit jumps to Rs17.86 billion
Budget 2018-19: K-P seeks 10-year tax break for its energy companies
Between defence and development
CPEC vital for China’s BRI because of Gwadar
CPEC is now a global brand of Pakistan, Ahsan Iqbal
Work on SEZs critical for job creation, says Standard Chartered CEO
Chinese project financing will dip to $906m in FY2018-19
China’s outbound investment continues rapid growth
Agreement allows China’s telecoms, power grid to share towers
China CITIC bank buys 50.1pct stake in Kazakhstan’s Altyn bank
India asks SCO members to work towards a stable, secure, peaceful Afghanistan

FOLLOW US


About Corridor.pk

Corridor.pk is Pakistan’s leading regional connectivity media & communication/outreach platform, dedicated to profiling and promoting the business activities, news and views on the regionally connected business corridor across OBOR. 

     

Addional Information

 Ethics Policy     Advertise
 Terms & Conditions
 Contact Us