KARACHI: Association of Builders and Developers of Pakistan (ABAD), welcoming the appointment of a leading Chartered Accountant and tax expert Shabbar Zaidi as the Chairman of Federal Board of Revenue (FBR), has hoped that Shabbar Zaidi will bring in new strategy to solve problems of business community of the country as well as creating new venues for tax collection rather than taxing already taxed people.
Chairman ABAD Muhammad Hassan Bakshi, Senior Vice Chairman Anwar Dawood, Vice Chairman Abdul Kareem Adhia and Chairman Southern Region Ibrahim Habib, in a statement, said that the PTI-led federal government has taken right decision by appointing a technocrat from private sector as Chairman FBR. This decision will have good impact on revenue generation and solution of tax-related problem as Shabbar Zaidi is well-known in business circles as well as in bureaucracy of FBR as a tax expert and provincial and federal governments used to take advice from him, they said. Recently, in an interview, Shabbar Zaidi had said that he will try his best to increase tax to GDP ratio from 13 percent to 26 percent.
ABAD office-bearers said that widening tax net is necessary for more tax collection. They demanded of the federal government to announce and implement much-talked Tax Amnesty Scheme as soon as possible for boosting revenue collection.