Assets Declaration Scheme Helpful For Broadening Tax Net

The Rawalpindi Chamber of Commerce (RCCI) President Malik Shahid Saleem Monday expressed hope that newly announced Assets declaration Scheme 2019 will not only intimate people to enter into the tax net but also helped government to document the economy

RAWALPINDI, (UrduPoint / Pakistan Point News - 24th Jun, 2019 ) :The Rawalpindi Chamber of Commerce (RCCI) President Malik Shahid Saleem Monday expressed hope that newly announced Assets declaration Scheme 2019 will not only intimate people to enter into the tax net but also helped government to document the economy.

Talking to media, he said that Asset Declaration Scheme will enhance the tax base and bring benami and other unregistered assets in the formal economy.

RCCI President remarked that more incentives should be given to tax payers and reforms must be introduced in tax regime to help broadening the tax net and increasing the tax payers numbers.

Malik said that documentation of economy is vital for economic uplift and asked the government to introduce amendments in laws so that registration of income tax filing can be made hassle free.

He called upon the business community to take full benefit from the assets declaration Ordinance, which is last opportunity for the people to disclose hidden assets till June 30.