Government decides to undertake tax reforms on fast trackWe have proposed in a study, led by Dr Ikramul Haque, that a flat income tax of 10% should suffice for fiscal needs of the country. This needs to be immediately corrected and a simple solution is the introduction of a low, flat income tax. Revamping policies: LCCI for tax reforms after consultationCountries usually start from a lower level of GST, like 3% and revise it upwards. The finance minister should eliminate the collection of advance income tax and advance sales tax at the import level. Single-mindedness on tax and tariff reforms can be much more rewarding than any other economic initiative at the moment.

Source: The Express Tribune January 07, 2019 03:33 UTC