Importers and exporters have been advised to adopt e-payment system for Customs duties and taxes online instead of wasting their precious time in lines in front of banks
These views were expressed by Additional Collector of Customs Appraisement, Rashid Munir on Wednesday in Lahore, Pakistan.
The additional collector said that businessmen’s time is precious and they should save their time by adopting online and e-payment system.
He said that by adopting the e-payment system for duties and taxes, they would save time and when time is saved it means money is saved.
He said that it has become a reality in the present ear that customs have facilitated the importers and exporters by implementing the e-payment system.
“The e-payment system will save huge and valuable time enabling them to spend the time in their business growth and development,” he said.
President, Lahore Chamber of Commerce and Industry (LCC1), Malik Tahir Javaid, said that system of online tax payment will certainly prove to be a positive step towards improving the ranking of Pakistan especially in paying taxes that is one of the ten factors of Ease of Doing Business.
He said that according to the recently released World Bank Ease of Doing Business 2018 Report, Pakistan has slipped three places from its last year’s ranking of 144th, reaching 147th among 190 economies.
Our ranking in paying taxes is 172, which have to be improved to bring major turnaround in overall ranking.
“We must understand that international investors consider Ease of Doing Business ranking before making investment decisions in any country. Such a low ranking dents the image of Pakistan badly in the eyes of foreign investors and the government’s business friendly perception.
“It is the joint responsibility of all the stakeholders of the economy to collaborate with each other to set the things in order,” the LCCI chief said.
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