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LAHORE: Participants at the first meeting of the Task Force on Taxation Reforms on Monday agreed over harmonisation of tax regimes between the provinces and the federal government.

The meeting was aimed to address taxation issues faced by the private sector in Punjab and was held under the aegis of the Investment Climate Reform Unit (ICRU) of Planning and Development.

The task force is an extension of the Public Private Dialogue Council, formulated under the PPD mechanism of ICRU.

The meeting was presided over jointly by OICCI President Bruno Olierhoek and CEO Nestle Maleeha Bangash. Participants included private sector representatives and experts.

The participants were of the view that these issues were not only affecting the profit margins adversely, but also restraining competition in the market.

“We recognise the contributions made by the private sector to the national exchequer with its commendable revenue generation and also as a source of employment generation,” said Bangash, adding, “Since the ICRU is a friend and partner of the private sector, we assure you that your proposed recommendations will reach relevant higher.”

Published in Dawn, April 17th, 2018