Tax Asaan Scheme | Pakistan

Finance Minister Muhammad Aurangzeb on Tuesday termed the launch of the Tax Asaan Scheme for traders a “paradigm shift”, adding that the government had to start somewhere in its efforts to widen the tax net. In an interview on Geo News programme ‘Capital Talk’, Aurangzeb said: “We kept the tax rate at 1pc for traders because we have to start somewhere. However, it is part of a broader framework to expand the tax net, and we are moving in the right direction.” The finance minister elaborated that he was working on a “new operating model” for tax collection with “no human intervention”. He said that under the new scheme for traders, the discretionary powers of income tax officers would be limited. “There will be a Central Processing Unit that will monitor everything. We have comprehensive data. We have compiled data from third-party sources and tax records, on the basis of which we are examining the issues,” the finance minister said. He said the public had welcomed the budget and that the government’s goal was...