Lack of entrepreneurship in pakistan

[Developereo]

That's why I say come work in Pakistan

See how much tax is cut by the gov

I don't deny that some people are taxed -- you may be part of that 0.5% (or 0.9%).

Right now it is just empty talk

The only thing empty is Pakistan's tax coffers.

Pakistan politician pays £10 in taxes - Telegraph

Pakistan has one of the lowest collection rates in the world with only about 9% of its gross domestic product collected as tax – compared with about 36% for the UK. Less than 1% of the population file income taxes.

Of course, you can dismiss every fact that doesn't suit you. But until Pakistanis face the truth and the country starts collecting tax revenue like the developed world does, Pakistan will not achieve those standards of living.

 

[FaujHistorian]

I don't deny that some people are taxed -- you may be part of that 0.5% (or 0.9%).



The only thing empty is Pakistan's tax coffers.

I don't think you really understand the tax issue. How could you. You are not part of the tax chain in Pakistan

Let me restate


100% salaried class pays taxes in Pakistan.

You cannot avoid it.

100% farmers pay upto 5 different types of taxes


100% stores with electronic cash machine based stores pay taxes


Now come down to ma and pa operation where paper work is next to nill,

Yes there is an issue of taxes there

but then ma and pa are already crushed under the weight of taxes


So please quit harping on Pakistan when you the most you know is from few newspapers

Tell me how if Romnie (US presidential candidate) paid a lot of taxes that were anywhere near his income level.

Same with warren buffett



Thank you

 

[livingdead]

In India, in some areas, having a business is not considered bad, and people would rather start own business than continue in low paid job. In some other areas, you cant get a girl to marry because their parents would rather prefer a govt peon. So caste, family background and region determines whether you will give much thought to enterprenureship.
Recently that is changing, not much but, you see a few first time enterprenures from families not associated with business. GVK family is one such recent example.

@Developereo I think americans are more enterprenurial than european although they dont have much safety net, may be because their dreams become reality most of the time. But yes, safety net does help in risk taking.

 

[Developereo]

I don't think you really understand the tax issue. How could you. You are not part of the tax chain in Pakistan

I know extremely well how tax cheating works in Pakistan.

The only people who pay legitimate tax are salaried employees of big corporations.

Almost everyone else fudges their numbers and cheats on their taxes.

Also, we are talking about income taxes here, not consumption taxes. As I have stated elsewhere, Pakistan tax code is written by the rich for the rich, and places an unfair burden on the lower classes by focusing on consumption, rather than income, taxes.

PS. You can jump around all you want. The numbers from the Pakistan FTB itself tell the story: 9% of GDP comes from taxes (compared to 36% in UK).

Bottom line, as I wrote, if you want to live like the developed world, they you have to pay up like the developed world. No free lunches.

@Developereo I think americans are more enterprenurial than european although they dont have much safety net, may be because their dreams become reality most of the time. But yes, safety net does help in risk taking.

Yes, Americans are more entrepreneurial, but don't be fooled by labels. The US, like all developed countries, has a very strong social democratic foundation. They just don't like to call it that in America. The US has food-stamps, section 8 housing, medicaid and a slew of benefits for poor and unemployed people.

Americans like to brag that Europeans pay too many taxes but, if you add up Federal and State income taxes, many Americans pay the same or more taxes.

 

[FaujHistorian]

.. As I have stated elsewhere, Pakistan tax code is written by the rich for the rich, .

It is very similar to Indian tax code, few digits here and few digits there may be different

And both of them are written by the baboo baboons and not rich for rich for cih.

 

[Secularpakistani]

Do you know how Pak rupees are made?

Dear i have already told you.

Thankfully we have gujjus and Punjabis.

Plus Marathi people are also coming ahead in business.

I must accept they are doing great not only on a national level but also on international level.

 

[Secularpakistani]

May I ask how many years of experience you have as being an entrepreneur?

Thank you

In am passionate about the IT sector .I had a little tech start up expereince .A few years ago in my teens i started a site about investing and trading techniques.The starting cost was around $500 and after 11 months i sold it for almost $3000 because i had my A levels exams coming and marketing and maintaining your site need time and commitment .So i decided to sell it.Again i am interested in starting another tech startup but this time on some big level.I am also a self programmer and i know about web technologies like PHP,Phython,HTML,CSS etc.So i think for me it,s a plus point because in this way i can minimize my startup costs because i don,t need to hire a programmer and web developer for that.

 

[livingdead]

In am passionate about the IT sector .I had a little tech start up expereince .A few years ago in my teens i started a site about investing and trading techniques.The starting cost was around $500 and after 11 months i sold it for almost $3000 because i had my A levels exams coming and marketing and maintaining your site need time and commitment .So i decided to sell it.Again i am interested in starting another tech startup but this time on some big level.I am also a self programmer and i know about web technologies like PHP,Phython,HTML,CSS etc.So i think for me it,s a plus point because in this way i can minimize my startup costs because i don,t need to hire a programmer and web developer for that.

best of luck for your next adventure.

 

[Secularpakistani]

best of luck for your next adventure.

Thanks and the only the entrepreneur can imagine the excitement which comes with the new startup )

 

[FaujHistorian]

Dear i have already told you.
.

It isn't clear

 

[Cheetah786]

="FaujHistorian, post: 5154790, member: 38719"]What you say is only applicable to USA, UK and EU.

Pak Government can always print more money.

We do not live in the time of gold coins as currency.

These days taxation only matters if the currency being used in the country is "hard currency" like dollar euro pounds etc.

Pak rupees collected by taxation means nothing.

Just a paper.


Any country that cannot print hard currency should have ZERO taxes.

Forgive me were you adviser to GW bush and Zardari as there are serious consequences of just printing money.

My family is mostly small business and yes you can call us entrepreneurs.

Yes there are doctors and engineers too.


Remember in an Islamist Marxist society, entrepreneurs tend to remain small.

Only free market where copy rights are protected and government is not the monopoly, that you will see small entrepreneurs becoming big corporations.

The day Pakistanis quit being Islamist and Marxists, we too will have a lot more entrepreneurs and a lot more mega corporations.

We are same population as Japan, and we have lot more resources compared to Japan.

But there is no Honda nor Toyota corporations native to Pakistan.

Why?

Because of our bad belief system.

Please change your profession if you are still advising on financial issues i beg you.

 

[FaujHistorian]

Forgive me were you adviser to GW bush and Zardari as there are serious consequences of just printing money.
.

Americans can tax hard currency. This hard currency has huge value for the American gov

Pakistan tax collection of soft currency doesn't mean jack. It is like our gov collecting toilet paper

Why

Because Pakistani people have to buy everything at dollar rates.

 

[qamar1990]

In Pakistani society on a birth of a daughter her parents dream of making her a doctor one day and on a birth of a son his parents want him to be an engineer. It is good thinking indeed which is responsible for the presence of many doctors and engineers in this country but what the overall economic prosperity of this country?What about producing those individual entrepreneurs who know how to start and successfully manage their own businesses in different industries which will boost the economic performance of Pakistan?Entrprepreneurship is the driving engine of the economy.We really lack the skill of entrepreneurship in Pakistan. We can see few people here who are successfully managing and who created their business empires but few of them have educational qualifications in the field of business and entrepreneurship. I lived in Russia for almost one year and over there I saw a very different attitude of people on choosing a profession. They just follow their passion that’s why in such developed nations every industry is performing at its best because most people love what they do. No country can achieve its economic goals without having the healthy business environment. USA and other developed western countries are the best examples because they have plenty of good entrepreneurs who contributed in the economic well being of their country. We really need to change this attitude and should promote entrepreneurship in Pakistan. And parents should allow their children to choose what they want to be. There are hundreds of other professions but I wrote on entrepreneurship because this is one important skill for the development of this country which is not present here.

pakistanis are entrepreneurs by birth cousin, i have no idea why you think we lack entrepreneurs lol.
our economic failures have other reasons.

 

[FunkyGen]

In Pakistani society on a birth of a daughter her parents dream of making her a doctor one day and on a birth of a son his parents want him to be an engineer. It is good thinking indeed which is responsible for the presence of many doctors and engineers in this country but what the overall economic prosperity of this country?What about producing those individual entrepreneurs who know how to start and successfully manage their own businesses in different industries which will boost the economic performance of Pakistan?Entrprepreneurship is the driving engine of the economy.We really lack the skill of entrepreneurship in Pakistan. We can see few people here who are successfully managing and who created their business empires but few of them have educational qualifications in the field of business and entrepreneurship. I lived in Russia for almost one year and over there I saw a very different attitude of people on choosing a profession. They just follow their passion that’s why in such developed nations every industry is performing at its best because most people love what they do. No country can achieve its economic goals without having the healthy business environment. USA and other developed western countries are the best examples because they have plenty of good entrepreneurs who contributed in the economic well being of their country. We really need to change this attitude and should promote entrepreneurship in Pakistan. And parents should allow their children to choose what they want to be. There are hundreds of other professions but I wrote on entrepreneurship because this is one important skill for the development of this country which is not present here.

I'll try my best to be rich, thanks to my dad

 

[Developereo]

pakistanis are entrepreneurs by birth cousin, i have no idea why you think we lack entrepreneurs lol.
our economic failures have other reasons.

I think the OP isn't talking about opening a retail shop or a restaurant. He seems to be talking about more cutting edge ventures like IT, biotech, etc.