, Aug. 26 -- Chairman of National Board of Revenue Md. Abdur Rahman said that widespread use of tax exemptions is preventing the country from increasing its tax-to-GDP ratio.

Speaking as the chief guest at a seminar titled "Corporate Tax and VAT Reform: A Critical Perspective for the NBR," he warned that the failure to collect sufficient taxes could affect development and spending of the government in different sectors.

The programme was organised by think tank Centre for Policy Dialogue (CPD) at a hotel in the capital.

Regarding the minimum tax system, the NBR chairman said, "There is no doubt that minimum tax is an old law, we have to admit it. Business will be taxed on profits. Instead, we are fixing minimum tax. The problem is, if ...