“AWARENESS OF TAX”
held by “Department of Economics”
‘Celebrating Tax Day’
9th September 2015
The purpose of this seminar was to explain the importance of taxes in making our society civilized. And as it is commonly said “Taxes and prosperity of a country go together” we need to prove it with logic so that the taxes may be paid without a heavy heart.
The invited speaker is from Federal Board of Revenue (FBR), Dr. Hassan Mabroor, Deputy Commissioner - Inland Revenue.
The speaker started the presentation by explaining the basics. The types and purpose of taxes were discussed in detail. The confusion between direct and indirect taxes was cleared after discussion of all types of direct taxes such as Income tax or withholding tax, workers’ welfare funds and capital value tax. The indirect taxes include custom duties, sales tax and federal excise duties. The speaker also elaborated the functions of FBR. In the last part of the session, taxation system of Pakistan was discussed.
Madam Sadia Rehmani (Assistant Professor, Economics Department, GSCWU) also addressed the session and created a realization among the participants about how taxes are a way to development.
The seminar contributed a lot to the understanding and knowledge of participants about taxes. Finally the participants agreed that taxes are important and they should be paid in order to see ourselves and our country prosper. They are the main source of revenue for the government and hold great significance for our economy.