Online tax payment system to ease businesses unveiled

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ISLAMABAD: The Pakistan Tehreek-e-Insaf (PTI)-led federal government s economic team on Wednesday unveiled an option of online tax payment for the business community, and declared that it would be possible to register a new company through ‘one window’.

Pakistan’s Board of Investment Chairman Haroon Sharif and Prime Minister’s (PM) Adviser on Commerce Abdul Razzak Dawood held a joint press conference in which they asserted that PM Imran Khan has defined a goal to improve the ranking of Pakistan.

“The new system will also be implemented in Sindh till the month of March,” they disclosed, adding that there were several issues in the older process of registration of new companies.

Regarding registration of new properties, Haroon Sharif stated that the new process has been made easier.

“There were certain complaints about power outages and new electricity connection,” he said, adding that in this regard the Ministry of Energy would provide the relevant information on its website.

They further told the media that effective measures have been taken to improve tax system to facilitate the business community.

Dawood said that his team has been working with provincial governments to upgrade the tax system and developed a portal where all facilities could be accumulated at once for the benefit of companies.

“We are hopeful for an improvement in the World Bank’s index,” they added.
Prime Minister Imran Khan has directed to improve Pakistan’s ranking on ‘Ease of Doing Business Index’, where it currently stands on 136 in the list of 190 countries, Sharif continued.

“Pakistan will be among the top 50 countries on the index by next year.”
Flanked alongside Adviser to PM for Commerce, Textile and Industry Production Abdul Razak Dawood, Sharif said the business community had to pay 47 different taxes until three months ago, but now the number of such taxes had reduced to 16.

“Initiating a business in the country was a difficult process in the past, but now any company looking to get itself registered will be able to do the same from a single place, instead of going to three different places”, he added.

The chairman BoI said, Punjab had adopted the EODB system and now Sindh would also be transformed onto it. “Such steps will improve Pakistan’s ranking on the World Bank index.” – NNI