Finance Minister Asad Umar announced that the government will simplify the income tax mechanism this year.
He said that the revenue service of the Federal Council gave priority to the introduction of an easy-to-use tax payment mechanism. The minister said this while talking to journalists.
He also told reporters that the Economic Coordination Committee was busy with the special economic zones under the China-Pakistan economic corridor.
Tax-Filing Procedure Make Easy in 2019 By Finance Minister Asad Umar.
Umar also revealed that the government is developing a cotton production strategy.
The finance minister also said that the fiscal scheme introduced by the mini-budget is the first phase. It will expand gradually throughout the country, he said.
He also added that the new tax system would increase tax collection, which would ultimately benefit the business community. “I did not make any changes to the tax system,” Umar said.
The minister promised that the government would reward the best taxpayers in the country. He pointed out that the economy could not prosper without controlling the fiscal deficit.
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