SDPI Workshop Emphasizes Tax Reform for Inclusive Growth

Experts at a recent workshop highlighted the importance of documenting the national economy and income to support a reformed taxation system aimed at expanding the tax base and regulating untaxed sectors. The workshop, titled 'Optimizing Revenue and Public Spending for Inclusive Growth,' was organized by the Sustainable Development Policy Institute (SDPI) in collaboration with Revenue Mobilization, Investment and Trade (REMIT) and the UK's International Development Agency.

Louie Dane, a Senior Economic Advisor, emphasized Pakistan's potential with its young population and growing markets. He stressed the need for practical solutions to ensure inclusive development and combat climate change. Dr. Abid Qaiyum Suleri, Executive Director of SDPI, discussed the challenges posed by COVID-19, conflicts, and climate change, urging for innovative revenue mobilization strategies.

Various industry representatives shared their insights, advocating for measures such as amnesty for undeclared foreign assets, reduction in withholding taxes, and sector-specific industrial estates. The importance of political stability, policy continuity, and stakeholder collaboration was also highlighted for effective policy implementation.

The workshop shed light on the critical need for documenting the national economy to drive comprehensive tax reforms and foster inclusive growth. By addressing challenges such as trust deficits, harmonizing taxation systems, and enhancing stakeholder engagement, Pakistan aims to create a conducive environment for sustainable economic development.