Unconstitutional taxation of salaried class dailytimes.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailytimes.com.pk Daily Mail and Mail on Sunday newspapers.
Dealing with rich-poor divide
May 24, 2021
CPI basket includes luxurious items while SPI based on basic necessity items. About 60% of the population falls in the “transitory poor” category it means a substantial population has no access to luxurious items; their needs revolve around basic necessities. The rules for indexation to the CPI have several potential disadvantages. They prevent real wage and employment adjustment in the presence of real shocks, causing suboptimal employment. In the presence of nominal shocks and inflation, indexation to prices can generate inconsistencies. The shock of inflation is not uniform for basic and luxurious commodities. The inflation through CPI is not suitable to be used for indexation as it cannot capture the inflationary shock to all income groups Pay Indexation in Pakistan, Saud Ahmed Khan and Amena Urooj and Ahmad Fraz.
Daily Times
“
A comprehensive strategy has been formulated to shift the gears and move to higher economic growth. I do not believe in an increase in taxes to increase revenue collection but those outside the tax net would be tapped. The chances for any harassment by FBR officials shall be eliminated for which change in audit procedures. 17 percent General Sales Tax rate is very high and a mechanism has been prepared for its reduction and the government was also working on a sales tax system for small businesses….” Finance Minister,
Shaukat Fayaz Ahmed Tarin, in his first testimony before the Standing Committee of the National Assembly on May 3, 2021.
Daily Times
“
A comprehensive strategy has been formulated to shift the gear and move to higher economic growth. I do not believe in increase in taxes to increase revenue collection but those outside the tax net would be tapped. The chances for any harassment by FBR officials shall be eliminated for which change in audit procedures. 17 percent General Sales Tax rate is very high and a mechanism has been prepared for its reduction and the government was also working on a sales tax system for small businesses….” Finance Minister Shaukat Tarin in his first testimony before the Standing Committee of the National Assembly on May 3, 2021.