- Only 14% of companies in Pakistan are registered for sales tax
- Estimated loss of $12.2 billion due to tax evasion
- Government plans to revamp tax collection system with help of experts
- Focus on digitalizing tax system to prevent leakages
- Tax evasion in Pakistan amounts to approximately $25 billion
- Importance of fair tax regime and data analytics to plug leakages
- Goal to raise tax-to-GDP ratio to 13-13.5% for sustainable economy
- Emphasis on eliminating tax collection leakages and addressing misreporting in various sectors.
Source: arabnews.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
