“From next year, there will be only two taxes, sales tax and income tax. This is our aim. This will reduce corruption in FBR and remove overlapping of taxes”,Federal Finance minister Dr Abdul Hafeez Sheikh said on Saturday .
He also said tax system will be further simplified to reduce corruption in the country.He said the govt will go after those who are enjoying luxurious life, but not paying taxes and not fulfilling their national obligations. “We will tax agriculture inputs, eliminate zero rating regime to remove exemptions. We have identified 0.7 million such addresses, who live luxurious life, visit abroad twice a year and do not have tax numbers and filing their income tax returns,” he added.
