Amnesty scheme can broaden tax net: LCCI

Tax Amnesty Scheme 2018 Details

Lahore: The Lahore Chamber of Commerce and Industry (LCCI) President Malik Tahir Javaid has that an extension in Tax Amnesty Scheme 2018 would enable the greatest number of businesses to avail full benefits, according to a news story.

Javaid is of the view that this scheme would relieve pressure on the economy and generate additional revenue for the government, while the business community would benefit from having their assets being documented and legalizing their assets. For the long run, Javaid has said that this scheme would reduce the burden from the existing taxpayers and broaden the tax net. With this, the country’s tax to GDP ratio is also expected to improve.

The LCCI Vice President Zeshan Khalil has said that the computerized National Identity Card (CNIC) number would be given the status of National Tax Number and people would be able to file their taxes by simply filling out a form.

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