CDPR kicked off its first event in collaboration with the World Bank in its Pakistan Development Policy Series 2021, entitled “Unlocking Pakistan’s Income Tax Potential“, which took place on Monday, March 1, 2021 at 5.00pm to 6.30pm.
The Pakistan Development Policy Series 2021 is a series of policy talks inviting discussion and debate on key reform areas critical to Pakistan’s economic, social and development growth. Focusing on Income Tax, this webinar invites leading specialists and representatives from government and the private sector to explore how Pakistan can address the issues faced in income tax policy and administration, and expand Pakistan’s currently narrow income tax base.
Our panelists included:
Dr Waqar Masood – (Special Assistant to the Prime Minister on Revenue);
Dr Michael Best – (Assistant Professor of Economics at Columbia University, New York);
Ms Aqeela Mumtaz – (Head of Corporate Accounting, Risk and Tax at Jazz);
Mr Ali Khizar – (Head of Research at Business Recorder);
Mr Sebastian James – (Senior Tax Specialist, World Bank).
The following key issues guided the discussion:
1. Equitably balancing out tax rates across income levels to broaden the tax base.
2. Rationalizing reliance on withholding tax to ensure tax structure remains progressive.
3. Improving tax compliance and willingness to pay.
4. Harmonizing income tax across levels of government.
5. Empowering tax administration to report and address tax evasion.
6. Encouraging political solutions and address trust deficits for long-lasting impact.