We are not talking about the indirect taxation here (VAT / GST), businesses normally get allowance for deductible expenses and are taxed on their net profit (income tax), basically they should be paying their share of taxes from their savings. Now there is nothing to restrict them from grossing up their revenues to cover their income tax liability, actually they will conveniently pass it on to another person who may already be paying his income tax. This is where Mr Prime Minister of newly formed Riyasat e Madina seems to have no clue that his policies are adversely affecting the middle class (the salaried class that cannot escape any kind of taxes). Rising costs, taxes without any increments in salaries ...... well.
He and his immaturity is becoming a threat now, our economy is yet to recover from IK effect ..... what he immaturely did from start has shaken the confidence of many, the reason SBP had to inject money in Stock exchange. If you could, just imagine a new CEO enters the office for the first time and the very next day in town hall meeting he starts crying and whining "Oh company has no money left, the previous CEO and management have left no money in accounts, it is about to go bankrupt, we should sell assets, furniture, start cost cutting etc etc" ...... not once multiple times, in presence of, bankers, investors, shareholders, supporting businesses and competitors ........ just imagine how that would shake everyone including employees. This is what he (IK) has been doing all this time since he became the PM.
