Tax is prerequisite for the development of country and trust deficit among people and collecting agencies needs to be bridged in order to compete with the rest of the world.

Tax is prerequisite for the development of country and trust deficit among people and collecting agencies needs to be bridged in order to compete with the rest of the world. It was stated by University of Agriculture Vice Chancellor Dr Muhammad Iqbal Zafar while addressing an awareness seminar on tax. It was arranged by Office of Research innovation and Commercialization, University of Agriculture Faisalabad and Punjab Revenue Authority as an initiative of the Punjab Government at New Senate Hall, UAF. Dr Muhammad Iqbal Zafar said that there was need to create the awareness among the masses about importance of tax for national development. He said that tax was essential for the provision of modern health, infrastructure, education and other basic necessity of life to the people. He said that tax collection agencies could reduce tax percentage that will help broaden tax net. He said if millionaires pay tax with honestly and people had trust on leadership, it will help increase the net. He said that only 10 million people in the country were registered to pay tax whereas majority don’t pay. UAF Treasurer Tariq Saeed said that PRA collected tax through withholding agents on different services whereas majority of the service providers were not registered with PRA. He stressed upon the need to address the issue and eliminate ambiguities at the earliest. Institute of Agri Resource and Economics Director Dr Sultan Ali Adil said that developed nations were spending 20 percent of their Gross Domestic Product on education whereas in Pakistan, only five percent was being spent that needs to be enhanced to face up the challenges of modern era. Tax Expert Hamid Masood called for holding the tax seminars in the every corner of the country in order to educate the people about the importance of the tax. Assistant Professor Kashif Hameed said that the country was having a complex system of 70 unique taxes by 37 tax agencies of the government.