Startups are Unable to Carryout Businesses Due to Tax Regime
Pakistan, Nov. 6 -- This was stated in a joint report of the World Bank (WB) and Invest2Innovate's Pakistan Startup Ecosystem Report 2019.
The report stated that issues such as opening a bank account, receiving credit, paying taxes, enforcing contracts, etc, still need to be dealt with. There is a lack of an efficient taxation process which saves time and resources for entrepreneurs and investors.
World Bank's Country Director for Pakistan Illango Patchamuthu, while sharing the report on social media, tweeted,
Old & tedious procedures barred the entrepreneur's way in successfully Trading Across Borders - till the Reformer brought in the reforms to make this integral part of #DoingBiz a much easier, less costly & time-intensive procedur...
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