FinMin urges business community to end bribery and boost tax compliance M Haris

During a post-budget session organized by the Lahore Chamber of Commerce and Industry (LCCI), Finance Minister Muhammad Aurangzeb called upon businesses to cease offering bribes to Federal Board of Revenue (FBR) officers and instead contribute their taxes to bolster the nation during economic challenges.

Aurangzeb highlighted a concerning trend where FBR officials are tempted with bribes ranging from 5 to 6 percent to underreport taxes. He emphasized the need for collaborative efforts to reform the FBR and discouraged practices that undermine tax integrity.

Addressing the gathering, the minister underscored ongoing efforts in digitalizing FBR operations to curb such leakages. He welcomed constructive criticism of government spending and acknowledged measures to rationalize expenses, including the reduction of the Public Sector Development Programme (PSDP) and reforms in pension management.

Aurangzeb stressed the importance of achieving a 13% tax-to-GDP ratio within three years, lamenting sectoral reluctance in tax compliance efforts. He expressed determination to steer Pakistan away from IMF reliance, urging collective support from stakeholders.

In conclusion, the minister urged the business community to align with government initiatives, emphasizing that national interests must prevail over individual gains to secure Pakistan’s economic independence.