The Islamabad Chamber of Commerce and Industry (ICCI) President Sardar Tahir Mehmood has welcomed the government's Fixed Tax Facilitation Scheme, unveiled on Friday, describing it as a pragmatic and business-friendly initiative that will help bring more businesses into the documented economy and significantly broaden the country's tax net.
Key Highlights of the Scheme
In a statement issued on Saturday, Sardar Tahir Mehmood said that the business community has long been advocating for a simplified, transparent, and facilitative taxation framework that encourages voluntary compliance rather than creating hurdles for taxpayers. The newly announced scheme reflects the government's commitment to promoting ease of doing business and fostering a more inclusive tax culture.
Encouraging Voluntary Compliance
Sardar Tahir Mehmood expressed confidence that the scheme would encourage undocumented businesses and small traders to become part of the formal economy, thereby increasing revenue generation without placing additional burdens on already compliant taxpayers. He noted that a wider tax base is essential for achieving fiscal stability and reducing reliance on indirect taxation.
Role in Economic Growth
The ICCI president emphasized that sustainable economic growth can only be achieved through policies that facilitate entrepreneurship, investment, and business expansion. He appreciated the government's efforts to engage stakeholders and introduce reforms aimed at creating a more conducive environment for economic activity.
Expectations for Future Policies
Sardar Tahir Mehmood expressed the hope that the government would continue to introduce further business-friendly measures, remove unnecessary regulatory bottlenecks, and implement reforms that strengthen investor confidence and support private sector growth. He also expressed optimism that the upcoming federal budget would be business-friendly and export-oriented, containing meaningful incentives for industry, trade, and exports to enhance economic growth, boost foreign exchange earnings, and improve the country's global competitiveness.
Commitment to Collaboration
Sardar Tahir Mehmood reiterated that the business community stands ready to cooperate with the government in its efforts to promote documentation, increase economic activity, and accelerate national development. He stressed that continued collaboration between the public and private sectors is vital for achieving long-term economic prosperity and enhancing Pakistan's competitiveness in regional and global markets.
