Growth Inclusive Tax Policy: A Reform Proposal PIDE Report

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Pide: Pakistan Institute of Development Economics

No 2020:5, PIDE Research Report from Pakistan Institute of Development Economics

Abstract: The document presents a reform proposal for a growth inclusive tax policy. The summary of the proposed reforms is given below: ▪ Withholding Tax (WHT) regime needs simplification • Withholdingisation1 needs to be reduced in the economy to improve efficiency. Finance Bill 2020 proposes to enhance thresholds to be considered as withholding agents for different tax provisions. It is commendable, and this reduction is recommended to be expanded to other tax provisions as well. • Make the process of readjustment or refunds of the unclaimed taxes easier. The FBR should streamline the online refund process on a priority basis to minimize economic cost.

Pages: 35
Date: 2020
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