IMF only viable option, PM Imran Khan told: Is it true?

[shah_123]

Are you alluding e.

I think if Pakistanis (minus elite/rich class) start paying direct taxes, the amount would be less than the indirect taxes collected today--- The real problem lies somewhere else (I have already posted tweets of Dr ikramul Haq), you can read articles of Dr Ikramul Haq and Dr Shahid Hassan to understand the picture.

https://twitter.com/x/status/1046033236420374528

 

[Tea addict]

Are you alluding to indirect tax?

@Tea addict Do we have gas comparison price between India and Pakistan? This might place everything in perspective.

https://indane.co.in/tarrifs_price.php
This site is of indane gas, if you enter any metropolitan city like Mumbai,Delhi, Ahmedabad etc you will see all the prices for 14.2 kg of gas cylinder are in range of 850 INR-900 INR..even the small rural cities you see on main page while you go to the link, the prizes are in range from 500-600 INR...the guy said he is paying 600 PKR after the rise in prize, and I assume he is from metropolitan city ,then your middle class guys even after prize rise pays less than an below poverty line indian from rural countryside.

 

[royalharris]

Pakistan must increase import tax on Chinese commodities .....Chinese cheap products ruining our local industry .Hence import is increasing while export is declining ....

such as Service Shoe company and General Tyre sale is declining .Sale of many such Pakistani products are declining .

free trade with China is toooooo much dangerous for our economy.

Dont know who and why did this serious blunder .

If this can solve your problem, ok，just do it，high taxes on each other

In pakistan，there are too many people like you，hot and simple head，contribute nothing to the development，but make troubles, a typical loser

 

[shah_123]

While that is true but the problem goes beyond that. Every retailer in Pakistan, every food outlet, every business in Pakistan down to the guy mending tyres to taxi driver should be registered for tax. Are they? Like fcuk. Pakistan should have at least 20 million on the tax roll paying some, even if small amount of tax. A rickshaw driver drives on public roads, expects justice etc but by god will not be prepared to pay some rupees as tax to the state.

Tinker, tailor, soldier spy, business tycoon, chaiwallah should be paying taxes on a sliding scale. How fcuk does a country of 200 million have 700,000 filing taxes? Borrowing or begging internationally might work for some time but eventually it will catch you up. And it has. Check out the loans taken out by PML-N government in last 5 years.

There's no need to beg, just stop the fuckin money laundering.

$10 billion a year.
https://www.thenews.com.pk/amp/374623-10-billion-a-year?__twitter_impression=true

 

[BATMAN]

IMF se loan to gullu butt bhi sign karsakta he.... Naya Pakistan me naya kia he?

There's no need to beg, just stop the fuckin money laundering.

$10 billion a year.
https://www.thenews.com.pk/amp/374623-10-billion-a-year?__twitter_impression=true

Exactly... money laundering and smuggling is the curse for Pakistan.
Overseas Pakistanis send $billions home, where does those billions go?

 

[BHarwana]

Pakistan is not going to IMF instead Pakistan is going to sell 1 MMT of sugar. I have confirmation on this news. This is going to bring in a lot of foreign exchange and will also hurt Indian sugar exports this is a very huge amount of sugar that will be exported and will bring in a lot of dollars. Assad Umer has approved the export of sugar. This will be a sad and bad news for Indian economy.

 

[Syed1.]

People being judge, jury and executioner on the basis of one news report in patwari Express Tribune Mashallah



IK was so right when he said, yeh shor machaingaye, aap ne ghabrana nahi hai meray sath kharay rehna hai

 

[shah_123]

IMF again, what for?
FBR has been serving the interests of rich and mighty in Pakistan. The privileged classes have been getting enormous tax benefits through Statutory Regulatory Orders (SROs) and frequent amnesties. Pakistan can never come out of existing fiscal mess unless SRO culture is abolished and FBR is replaced with National Tax Agency (NTA) that can effectively enforce tax laws both at federal and provincial levels. Had FBR been an effective body, it could have compelled all taxable persons-not less than 10 million-to file tax returns and pay due taxes. Equally incompetent and ineffective are provincial revenue authorities that have miserable failed to collect agricultural income tax imposed since 2000 as well as other taxes and levies.

https://fp.brecorder.com/2018/07/20180727394052/amp/?__twitter_impression=true

 

[BHarwana]

People being judge, jury and executioner on the basis of one news report in patwari Express Tribune Mashallah



IK was so right when he said, yeh shor machaingaye, aap ne ghabrana nahi hai meray sath kharay rehna hai

We are not going to IMF. This is the end line let people dream we have money honey.

This is more than the loans IMF will give us.

https://twitter.com/x/status/1047145392771600385

https://twitter.com/x/status/1047461066995900416

https://defence.pk/pdf/threads/pakistan-to-export-1-million-metric-ton-of-surplus-sugar.580454/

 

[shah_123]

IMF again, what for?

The issue in Pakistan is not that of lack of revenue resources as wrongly portrayed by IMF and World Bank, but documentation of economy-ending the culture of tax evasion and fiscal frauds. The forces representing bazaar [different associations of traders], unscrupulous industrialists, absentee landlords and corrupt civil-military bureaucrats are the impediments. These segments are not ready to pay personal taxes on their colossal wealth and income-in most cases created from undeclared sources.

The prescriptions given by the IMF and/or World Bank will not solve our problems rather further compound them. The rich and mighty segments, identified above, will pass on the burden of sales tax and withholding taxes on the less-privileged and will avoid personal taxation. In 1990s, the IMF and World Bank caused a crushing death blow to our industry when on their advice we introduced exorbitant sales tax rate of 21 per cent-within a short span of 2 years we had hundreds of sick industrial units. Later on, the rate was reduced to 18%, then 15% -again raised to 16% in 2009 and then to 17%- but the fact remains that heavy indirect taxation has pushed 60 million Pakistanis below the poverty line. We have been warning about the devastating effects of high indirect taxation and excessive burden of withholding taxes. Yet the IMF and the government insisted on these even on low income levels and the result is now before us, there is decrease in voluntary tax compliance as evident from increase in withholding tax regime.

The successive governments have been emphasising the importance of increasing tax revenues, mainly on the dictates of the IMF, but flawed and irrational tax policy has destroyed our economy. In Pakistan, the financial system is for the rich or to lend money to the government, thus, small-and medium-size enterprises (SMEs) do not get credit for growth. In such circumstances, demanding the businesses to pay huge taxes in advance through various withholding provisions, ahead of time, before they even know what their income is going to be, is a sure recipe for economic disaster and this is what is going to be prescribed by the IMF, if the new government decides to go for yet another bailout. What is the alternate?

 

[IbnAbdullah]

Aoa

Asad Umar isn't a magician nor does the man have any personal wealth fund which he could use to fix the short term economic problem Pakistan must address right now.

Pakistan is in the red right now and it would take a lot of time and effort get back into the black.

The last ten years have been of open robbery on the Pakistan's resources. It will take some time to get things back on track.

I supported for Asad Omar's party not because I expected him to self finance Pakistan's deficit or something, rather I did so hoping Imran Khan and his team would try to do much better than the previous lot and undo the massive damage they had done.

Preventing bankruptcy is the most important thing for us now. Once the immediate threat has been dealt with, long term prosperity may be focused on.
...

 

[AZADPAKISTAN2009]

Pakistan is not heavily Taxed country
0.14% pay income Tax only not even 1%

Example of North America Developed World Realities

All Figures in Dollar

• Income Tax : 20-30%
• 7%-15% Sales Tax
• Taxes on Fuel (When you but Petrol/Gas you pay small amount to government)
• Car Licence Plate Annual Permit $100-150
• Health Insurance Bill $50-$150
• Utility Bills Bill + (7-15% Sales Tax)
• Water Bill
• Sewage Bill
• Airport Tax ($5-$10)
• All Parking is extra in busy downtown area ($5-$10)
• All groceries (15% Sales tax)
• Road Toll Tax in certain parts of city not all places have this but common $5 per usage of road
• Home property Tax $100-200 monthly
• Own apartment $100-$300 maintenance bill paid to apartment building maintainers
• Car Insurance (You cannot drive with out it $100-$150), some % goes to government
• Business Ownership / Corporate Tax for your company profits 5%-15%
• Homes are bought on Mortgage (agreement with bank you pay monthly fee) $1000-2500/month for 25 years
• Park illegally 200$ fine car confiscated
• Traffic fine $200-$3000 fine
• Disposing old fridges / stove / Electricity items Tax (fixed amount)
• When you file taxes you pay $100 again to accountant / software to file taxes

So why are Pakistanis not able to pay minimum requirements
Why Pakistan needs to go to World Bank or IMF to shoot ourselves in Foot and cripple our country

• 100 Rupee per vehicle on Road toll Tax monthly ~ 1 Dollar
• 1000 Rupee per small Shop tax monthly ~ 8 Dollar asked per shop per month
• 10,000 Rupee Animal Qurbani Tax 1 time per year ~ 100 Dollar per animal
• 100 Rupee per cell phone recharge Tax ~ 1 Dollar

[ STATE IS NOT ROBBING YOU IF THEY DEMAND THIS MINIMUM PAY IT IS WHAT YOU HAVE TO DO TO KEEP COUNTRY RUNNING ]


Will reference the chart again ..... what this small 1 dollar , 8 Dollar , 100 dollar can mean for Pakistan

Only in Pakistan people buy whole homes HARD CASH full price 100,000-300,000 dollar property

Only in Pakistan you hear stories someone bought 10,000-20,000 car full price CASH

Only in Pakistan you hear stories someone owns 1000 Acres of Land or 5,000 Acres of Land

 

[Syed1.]

We are not going to IMF. This is the end line let people dream we have money honey.

This is more than the loans IMF will give us.

https://twitter.com/x/status/1047145392771600385

https://twitter.com/x/status/1047461066995900416

https://defence.pk/pdf/threads/pakistan-to-export-1-million-metric-ton-of-surplus-sugar.580454/

Price of sugar in international market today is around 340 $/ton.

https://www.isosugar.org/prices.php

So 1 million ton will only get us $340 million, not enough to cover anything.

 

[BHarwana]

Price of sugar in international market today is around 340 $/ton.

https://www.isosugar.org/prices.php

So 1 million ton will only get us $340 million, not enough to cover anything.

Yes and November new sugar will start coming and we will have more to export. So this is the best step of govt of Pakistan.

We have been exporting surplus for whole year and govt should start just in time system to decrease stock cost and export more sugar.

 

[Mr ambassador]

IMF again, what for?

The issue in Pakistan is not that of lack of revenue resources as wrongly portrayed by IMF and World Bank, but documentation of economy-ending the culture of tax evasion and fiscal frauds. The forces representing bazaar [different associations of traders], unscrupulous industrialists, absentee landlords and corrupt civil-military bureaucrats are the impediments. These segments are not ready to pay personal taxes on their colossal wealth and income-in most cases created from undeclared sources.

The prescriptions given by the IMF and/or World Bank will not solve our problems rather further compound them. The rich and mighty segments, identified above, will pass on the burden of sales tax and withholding taxes on the less-privileged and will avoid personal taxation. In 1990s, the IMF and World Bank caused a crushing death blow to our industry when on their advice we introduced exorbitant sales tax rate of 21 per cent-within a short span of 2 years we had hundreds of sick industrial units. Later on, the rate was reduced to 18%, then 15% -again raised to 16% in 2009 and then to 17%- but the fact remains that heavy indirect taxation has pushed 60 million Pakistanis below the poverty line. We have been warning about the devastating effects of high indirect taxation and excessive burden of withholding taxes. Yet the IMF and the government insisted on these even on low income levels and the result is now before us, there is decrease in voluntary tax compliance as evident from increase in withholding tax regime.

The successive governments have been emphasising the importance of increasing tax revenues, mainly on the dictates of the IMF, but flawed and irrational tax policy has destroyed our economy. In Pakistan, the financial system is for the rich or to lend money to the government, thus, small-and medium-size enterprises (SMEs) do not get credit for growth. In such circumstances, demanding the businesses to pay huge taxes in advance through various withholding provisions, ahead of time, before they even know what their income is going to be, is a sure recipe for economic disaster and this is what is going to be prescribed by the IMF, if the new government decides to go for yet another bailout. What is the alternate?

Exactly
you have spoken what i have in my mind...