Alfalah Books

Pakistan has been facing numerous financial problems over th

Pakistan has been facing numerous financial problems over the past few years. Some of these challenges include high inflation rates, high levels of external debt, unemployment, trade deficit, and poor tax collection. In this context, effective tax collection can provide a much-needed boost to the economy, especially if the collected revenue is invested in infrastructure, healthcare, education, and other critical areas. However, Pakistan's income tax system has been struggling to collect taxes efficiently. This has resulted in a budget deficit, an increased reliance on foreign loans, and a general lack of investment in critical areas. In this context, utilizing tax consultancy services can be a potential solution to improve income tax collection in Pakistan. This essay will discuss the financial problems that Pakistan faces, the benefits of using tax consultancy services, and how the government can encourage individuals and businesses to use tax consultancy services. Financial problems