(NATIONAL) Reforms could enhance taxes share in Pakistan's economy: WB.

ISLAMABAD -- The World Bank has said tax reforms could enhance taxes share in Pakistan's economy by two percent, according to a report on Saturday.

Imposition of tax on the agriculture income could increase taxes share in the economy by one percent, according to a WB report. In Pakistan 114 million people are employed, while only 8 mln are registered as income taxpayers, the bank stated.

"Direct taxes have only 33 percent share in the country's tax revenues as indirect taxes have major share in taxation revenues," World Bank report said.

The bank's report pointed out that the real estate sector enjoys more investment owing to lesser rate of taxation in the sector. There is lesser value of investment in production sector owing to investment in real estate, according to the lender.

Taxation rate on land has been less in Pakistan, "Ninety percent cultivators are not liable to pay tax," bank report stated. "Agriculture...