LAHORE, July 24 (APP)::Deputy Consul General of Chinese Consulate Peng Zhengwu on Wednesday assured the PCJCCI (Pakistan-China Joint Chamber of Commerce and Industry) of fullest support of Chinese diplomatic offices in its initiatives for strengthening trade, investment and cultural ties between Pakistan and China.
Addressing as chief guest at PCJCCI capacity building seminar on ‘Current changes in tax laws; Compliance and Enforcement challenges’ here, Peng said that Pak-China Joint Chamber had been working on different grounds, which had created opportunities for young entrepreneurs, asserting that joint chamber’s vibrant role in promoting bilateral trade and business between both the nations was commendable.
The key speaker of the seminar, an eminent leader of advocates community and former FBR commissioner Jahangir Ahmad said that tax was a basic instrument of fiscal policy, which was useless if it did not play significant role to maintain flow of wealth from ‘haves’ to ‘have nots’.
While highlighting the compliance and enforcement challenges of taxation, he said that sovereignty was the main objective of statesmen for implementing taxes within the state. “The State means the Federal Government, a Provincial Government, a Provincial Assembly, and such local or other authorities in Pakistan as are by law empowered to impose any tax,” he said, adding that tax played a significant role to maintain the flow of cash and wealth between the rich and the poor.
About current changes in tax, he argued that taxes on import would curb the rush of foreign goods and open new spheres for local manufacturers, as the increase in demand would force them to launch such products through which government would generate revenue.
On the occasion, PCJCCI Executive Committee Member Dawood Ahmad said that PCJCCI aimed at capacity building of local entrepreneurs as per needs of ever-changing market trends.
PCJCCI Secretary General Salahuddin Hanif said that PCJCCI was endeavoring to build a better and prosperous future of Pakistan with the cooperation of China. “We are trying to encourage and train the young entrepreneurs of Pakistan by sharing experiences and success stories of the successful people of Pakistan and China”.
Chinese Consulate’s Consular Mr. Wang Jian and Consular Attache Mr. Liu Zhan also spoke on the occasion.