Comprehensive measures essential to document the economy: Jameel Akhtar Baig
implementing Point of Sale (POS) systems across all levels is essential to fully document business activities
Lahore: Jameel Akhtar Baig, former president of the Lahore Tax Bar Association, has emphasized the need for immediate, effective, and comprehensive measures by the government and the Federal Board of Revenue to establish a documented economy in Pakistan.
He stated that implementing Point of Sale (POS) systems across all levels—from small shops to wholesalers and jewelers—is essential to fully document business activities.
Baig noted that even modest initial investment by the government could yield long-term positive results, including expansion of the tax net and discouragement of tax evasion.
He added that documenting the economy would enhance transparency, preserve records of business transactions, and strengthen the national exchequer. He further highlighted that the cash economy remains a major obstacle to improving the tax system, and without addressing it, the goal of a documented economy cannot be achieved.
He also called for promoting digital payments, making POS systems mandatory, and offering incentives to encourage traders to adopt the system.
