Tax collection has increased, says spokesperson
“The PTI led sit-ins have entered its 12th day and, despite the civil disobedience campaign, a much productive tax collection with over 20% increase has been recorded in August as compared to the previous year,” said Member Inland Revenue and FBR spokesperson Shahid Hussain Asad.
He said that unlike other economic indicators, the protests and sit-ins did not dent tax collection efforts of the government.
“FBR also collected Rs138 billion by July 31, 2014, which is Rs1 billion higher than the tax collected in the same period of the fiscal year 2013.”
Replying to a question, the spokesperson said that the civil disobedience call has negatively affected foreign investment and impacted the economic situation of the country. He added that although the business community and traders from all over the country have rejected the call, sit-ins have caused a huge loss to the national economy and negatively impacted local businesses across the country.
According Hussain, as a consequence of the sit-ins by both political parties the local stock exchange witnessed a bearish trend in the current week.
“The FBR is committed to broaden the tax net in order to strengthen the national economy and to enhance tax to GDP ratio in the country in line with the policy of the government,” said Hussain.
Adding that the FBR plans to issue notices to non-compliant persons, who have not filed their tax returns. He expressed hope that the business community would benefit from these facilities and would file their tax returns.
Published in The Express Tribune, August 27th, 2014.
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Please release the information, how much tax has been paid by Mr Qadri and Mr IK? These two peoples have done more damage to the economy.
Pakistan: Population - 188 million Tax Revenue - US $ 22 bn approx Tax as % of GDP - 10.2%
Singapore: Population - 5.4 million Tax Revenue - US $ 32 bn approx Tax as % of GDP - 14.2%
Says it all about why we are in a mess. Worst tax ratios in the world.
Even India is better than us:
India: Population - 1.25 billion Tax Revenue - US $ 78 bn approx Tax as % of GDP - 17.7%
This is good news,especially as even the date of filing of Income Tax Returns which were due on 31 -08-2014 and Sales Tax Returns which were due on 15-08-2014 have been extended to 30-09-2014 and 27-08-2014 respectively.