Deja vu of Corruption -- So all the corruption money now can be declared legal

[Thanatos]

Excellent step in the right direction. Way to go.

 

[The Accountant]

It is a good step, wont help with past black money, but may stem generation of fresh black money. Plus, at least past black money wud now become white.

India tried the reverse approach in 2016, but the penal rates were so high that only a few thousand crores were realised. It was a complete flop.

MNS is approaching the problem in a more practical manner.

Regards

He has done it a number of times, so actually we do it every 5 to 10 years so that all black money can whitten by the persons in power

Read it again ....... and then second time. Both times slowly and separating one sentence from another. What you did was pure sensationalist approach.

"Prime Minister Shahid Khaqan Abbasi announced on Wednesday the government’s intentions to offer an amnesty scheme for Pakistanis to declare their foreign "assets, and reduce tax rates to broaden the tax base and address challenges on the external and fiscal fronts, ahead of next year’s budget and the upcoming general elections."

Obviously the PM is talking about Income tax and not any other tax ........ and income tax is basically on your annual income and not on your wealth (I can understand a layman confusing this but you?). So reducing the tax rates to broaden the tax base ... means? ..... G ... reducing the tax rate in general and making more people pay income tax.

And thank you for reminding me of being an Elite member here ........ that is one achievement that really reminds me of my uselessness.

Man you have no idea of tax language and law ...

My simple question, what does Amnesty scheme has to do with tax rate reduction? Amnesty means FORGIVENESS so amanesty schemes are for declaration of hidden money ... That is your past undeclared (stolen money) is declared as a lump sum amount and you pay income tax on this and by this method you can legalize all your bribe and illegal money ...

Anyways there is no point of having discussion with you as you have no idea about tax language and you are willfully merging two different sentences ...

By the way you can ask any other tax or financial expert what does amnesty schemes means and you can just google it .

 

[I.R.A]

Man you have no idea of tax language and law ...

Well then if you think that is the case ............ nothing that I say is going to change your view. Anyways carry on please. So you were saying that .... its a malicious scheme against Pakistanis .......

Oh wait if you allow me ..... well let me take the liberty ..... to add one last point ......... in case its a malicious scheme against Pakistanis then they should wait for Mahdi to appear.

 

[The Accountant]

Well then if you think that is the case ............ nothing that I say is going to change your view. Anyways carry on please. So you were saying that .... its a malicious scheme against Pakistanis .......

Oh wait if you allow me ..... well let me take the liberty ..... to add one last point ......... in case its a malicious scheme against Pakistanis then they should wait for Mahdi to appear.

Why bringing religion into this? By the way there is another thread created on the same topic explaining my point in detail... Go and read that thread as well...

Recently we saw news of billions of rupees found with share El me on and balochistan minister... They were waiting for such a scheme.. So people like them will Hawala this corruption money abroad and show it as their hidden asset and it will become legal... Another way of looking at it... Had this a London flats case had not been highlighted. MN could easily pay a small percentage on the flat and claim them as her legal income without asking the source..

Kindly don't confuse assets with income. In income tax law assets are to be proved to be created from legal and tax income therefore corruption money cannot be declared as it is not from known salary or business...

So when people purchase assets from corruption or illegal source they wait for such an scheme where they can pay tax on the assets and declare in return as such schemes do not ask for the source of income...

 

[I.R.A]

Why bringing religion into this? By the way there is another thread created on the same topic explaining my point in detail... Go and read that thread as well...

Appearing of Mahdi is not part of my Deen ..... so I don't think talking about a mythical character is involving religion.

Kindly don't confuse assets with income. In income tax law assets are to be proved to be created from legal and tax income therefore corruption money cannot be declared as it is not from known salary or business...

So when people purchase assets from corruption or illegal source they wait for such an scheme where they can pay tax on the assets and declare in return as such schemes do not ask for the source of income...

What other method or way do we have to broaden our tax base and document all the illegal assets? Do you think we can arrest all of these corrupts with our current system of law enforcement and justice? So I am ready to compromise because the narrow tax base is putting a lot of pressure on me as a tax payer ..... I have to pay for all the undocumented tax payers as well ......... lower the tax rates and tax everyone ...... jo gareeb already dy raha hy ussay mazeed ragarna chor do bai ....