KARACHI, Feb 19: The Income Tax Bar Association, Karachi (ITBAK), is holding a two day national tax conference 2003 (Taxcon - 2003) on Feb 21 to 22, where adviser to the Prime Minister on Finance Shaukat Aziz will be the chief guest.

This was stated by the president ITBAK Abdul Qadir Memon at a press briefing held on Tuesday at Income Tax Bar Secretariat.

He said that the theme of the Taxcon will be ‘tax culture for revival of economy’.

The ITBAK chief said this tax conference will be first of its nature in the history of this country as all the stakeholders including taxpayers, revenue collectors, professionals and members from judiciary will have chance to exchange and share views.

Abdul Qadir Memon said that Karachi Tax Bar being the largest tax bar of the country is discharging its duties by setting up new trends and traditions and is holding this conference for the promotion of tax culture in the country.

The conference, he said, is being organized at the time of global recession when developing nations are striving hard to create tax culture for the revival of their economies.

During past three years the government has brought many fiscal reforms particularly in the field of taxation, promulgation of the Income Tax Ordinance 2001, opening of Large and Medium Taxpayers’ Units and introduction of Universal-Self Assessment Scheme.

Z. H. Jafri, former president of All Pakistan Tax Bar Association and chairman National Tax Conference speaking on the occasion said that time has come to ponder over rapid increase in poverty.

He said that around 40 to 45 per cent of the population is presently living below poverty level and this means that there is some serious fault in the taxation system which is making rich people more richer and poor segment of the society poorer.