ISLAMABAD, Pakistan: Federal Minister for Finance Mohammad Ishaq Dar has said Voluntary Tax Compliance Scheme (VTCS) would promote tax culture to expand tax net and further strengthen the national economy.
“VTCS was finalized on last week with the consultation of traders belong to various political parties and they (traders) appreciated the scheme which help in facilitating the traders and business community,” he said while talking to a news channel.
Ishaq Dar said it would be implemented after approval of the parliament with aimed to include those were not paying taxes.
He congratulated parliamentarians, Federal Board of Revenue (FBR) team and leadership of traders for holding marathon sessions over last 5 months to finalize it.
Commenting on Pakistan Tehreek-e-Insaf’s (PTI) opposition of VTCS, he said it was sorrowful as some elements were misinterpreting the tax scheme without reading it.
“Many PTI members acknowledged VTCS and told me to present it in the parliament for implementation,” he added.
The minister urged PTI leaders to come forward and play positive role in the country and do not waste their time in baseless issues.
On Friday, Prime Minister Nawaz Sharif launched the VTCS, aimed at registering non-filing traders and regulating the undocumented economy.