Federal Minister for Finance and Revenue, Mr. Shaukat Tarin, presided over the first meeting of the National Tax Council (NTC) held here at the Finance Division today.
Finance Minister welcomed the participants and stressed the need for greater cooperation between the Federal and Provincial Governments in matters relating to the harmonization of general sales tax (GST). He expressed the hope that under the umbrella of the National Tax Council, both the Federal and Provincial Governments would move towards harmonizing taxes across the multiple jurisdictions to facilitate the businesses and reduce the cost of doing business in Pakistan.
The Finance Secretary, Government of Pakistan, highlighted the TORs of the National Tax Council and the progress achieved so far. The Federal Board of Revenue and the respective Provincial Finance Departments gave a productive and positive input on various taxation issues, which came under discussion.
The Provincial Finance Ministers welcomed the initiative of the Federal Government and assured to move ahead under the umbrella of NTC for the betterment of the country and to build a progressive economy.
Federal Minister for Finance & Revenue urged the participants to work together on the pending taxation matters so that an arrangement relating to harmonization of GST amongst Provinces and the Federal Government could be finalized at the earliest.
Finance Minister, Government of Punjab Mr. Makhdoom Hashim Jawan Bakht, Finance Minister, Government of Khyber Pakhtunkhwa, Mr. Taimur Khan Jhagra, Finance Minister, Government of Baluchistan, Secretary Finance, Government of Sindh, Chairman, Sindh Board of Revenue, Secretary, Finance Division, Chairman FBR and other senior officers participated in the meeting.