Pakistan, March 31 -- The Pakistan Industrial and Traders Association Front (PIAF) stressed the need for reforming and simplifying the taxation system in consultation with the real stakeholders, as the FBR's tax shortfall widened to Rs725 billion in the first nine months of the current fiscal year, days after it committed with the IMF to achieving the target of increasing collections to 10.6% of the size of national economy.

The PIAF Chairman Fahimur Rehman Saigol, Senior Vice chairman Nasrullah Mughal and Vice chairman Tahirm Manzoor Chaudhry in a joint statement said that the FBR's reforms initiatives are not bearing fruit, as the revenue collecting could increase the number of sales tax return filers by just 8 percent in first six mon...