RAWALPINDI - President Rawalpindi Chamber of Commerce and Industry (RCCI) Dr Shimail Daud said investors made billions of rupees investment in various sectors under the existing system of Federal Board of Revenue (FBR) and there is no need to change it.
He said FBR’s present system is not only modern but also being practiced in developed countries for giving boost to economic activities, adding “it was introduced in consultation with World Bank and Department for International Development “a British department after fulfilling all needs of the present time.”
Commenting on some reports about planning to revive the old tax collection system, he said if the FBR is facing any difficulty in streamlining some matters, it should improve its efficiency to overcome it instead of wrapping up the contemporary plan.
Highlighting the importance of increased tax-base, he said, FBR should declare having National Tax Number (NTN) and RCCI membership mandatory for all entrepreneurs operating in Rawalpindi.
The given suggestions, he said, should be got approved from the Parliament and implemented as an Act, ultimately getting rid of tax-evasion.