KARACHI: The Overseas Investors Chamber of Commerce and Industry (OICCI) has asked the Sindh government to integrate all revenue collections under one roof and also raise tax from agriculture sector so that it makes due contribution to development of the province.

The matter came up for discussion during a recent inter-active session held at OICCI office between Tashfeen Khalid Niaz, chairman, Sindh Revenue Board (SRB), and Asad S Jafar, president, OICCI.

The OICCI extended full support to the Sindh government in its efforts to increase revenue collection and streamline taxation structure of the province so that all segments of society share their due burden in taxes.

The OICCI chief, commenting on the enhanced role of the provincial governments in revenue collection after the 18th Amendment, stressed the need for SRB and major stakeholders, like OICCI, whose members contribute over Rs700 billion annually to the federal and provincial revenue, to remain closely engaged.

He further stated that the OICCI proposals for the Sindh budget 2014-15 highlight some restructuring measures to facilitate investment and economic activity besides suggestions for broadening the tax base and review of the basis of taxation for agricultural income.

The OICCI’s 2014-15 taxation proposals to the Sindh government include integration of current three revenue collection agencies into one, taxing all incomes including agriculture. It also stressed the need for full coordination between all the provincial revenue boards to clearly identify jurisdictional issues which are creating problems for taxpayers.

There is a greater need for reduction and uniformity in sales tax rates for all kinds of business activities, and for clarity in scope of taxable services, exemption for withholding agents from deducting sales tax from unregistered vendors.

Introduction of zero-rating regime for certain business transactions was also stressed by the OICCI president.