Shrinking tax base to force Govt to seek another IMF loan

QUETTA, March 20: Chairperson Quetta Chamber of Commerce Committee for Trade and Commerce Tabassum Anwar said that the wrong strategy resulted in failure of recent tax amnesty scheme which will further shrink the documented economy and expand the thriving black economy.
She said that the economic managers claimed to net one million new taxpayers through this scheme but the result remained less than one percent cause of flaws in the strategy which forced the government to abandon struggle to expand tax net.
Tabassum claimed that the wrong policies will continue to expand undocumented economy forcing government to carry begging bowl again to meet its growing requirements, said a press release issued on Sunday.
She said that falling exports and problems in export of manpower coupled with shrinking tax base are issues that should be taken seriously lest country is forced to request another IMG programme with insulting conditions. She said that the continuation of smuggling had resulted in closure of many industries, lost in revenue and vanished job opportunities. Tabassum insisted that the under invoicing continue to inflict loss of billions annually which must be tackled, adding that matters should be resolved soon otherwise country will have no option but to seek further loans.-Online