Thursday , 16 August 2018

Lowering corporate tax: yea or nay?

Dr. Md. Abdul Mazid, Ex-chairman, NBR

Dr. Md. Abdul Mazid, Ex-chairman, NBR : There have been discussions about lowering the corporate tax rate. Lowering the tax rate will definitely lead to less revenue, because a huge sum could be missed from the tax net.
Plans need to be set for ways to recover the loss. The corporations that owe to the government, do not release funds. VAT is being paid on the consumers’ end, but businessmen are not releasing that fund to the government. The sector needs to get more attention. It is possible to settle the issue of revenue collection dropping by raising the minimum corporate taxes. So, these matters have to be addressed.

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