Politicians exempt, or pay minimum tax: expertMarch 16, 2015
KARACHI: In Pakistan politicians are exempt to pay any tax, or even if they have to pay they pay the minimum tax, revealed noted economist Professor Dr. Hafeez Ahmed Pasha.
Addressing to a two-day international conference on “Structural Reforms for Inclusive Development”, organized by AERC, University of Karachi, he said that the tax system had been old enough to deal with current financial deficit of the country. He said most of politicians, technocrats, and others had been exempt for paying tax or pay just minimum tax.
“Only eight hundred thousand people have registered for tax return and only 16% tax has been received from the cooperate sector”, he said.
He urged that the leadership of Pakistan must come forward to make structural reforms needed for the inclusive development for the economy of Pakistan.
However, Sindh Finance Minister Syed Murad Ali Shah said that the province has beat the rest of provinces in tax collection and it would grant money for the universities of Sindh.
He said that it had been a great achievement in obtaining a target of 49% tax of the fiscal year by adopting the strict policy by current government. He said the federal government would be asked for granting authority for collecting other taxes at provincial levels.
He said that the universities of the Sindh would be provided substantial amounts for to bring them out the financial crises.
Prof. Dr. Mohamamd Qaiser, Vice Chancellor of University of Karachi, said the current era of globalization and new benchmarks in different field of applied economics had set the new challenges for our country, like food security, power shortages and poverty and these challenges could be entertained to bring the structural reforms from top to bottom.
Prof. Dr. Moonis Ahmed, acting director of AERC said, “Structural Reforms for Inclusive Development” is quite timely because of the necessity and need to enter into a meaningful discourse on introducing structural reforms which can help the process of economic and human development of Pakistan.
Dr. Shabbar Zaidi said that education and distribution of equal equity could only bring the prosperity in the country and Pakistan had been far away from tax culture.