Pakistan announces new Taxes in attempt to boost revenue

[Saleem]

Govt Announces New VAT, Higher Capital Gains Taxes

Just days after Deputy US Treasury Secretary Neal Wolin issued a public call for Pakistan to dramatically raise taxes, the nation did just that, announcing both a new Value-Added Tax and a significant increase in the Capital Gains Tax.

At US Behest, Pakistan Raises Taxes -- News from Antiwar.com

 

[Spring Onion]

When you borrow from IMF with accepting all their conditions then why to complaint

 

[AZADPAKISTAN2009]

I find the logic strange in western countries when economy does bad ppl lower taxes, they lower borrowing cost , and lower pretty much every thing

In Pakistan , the opposite takes place ?

Are our economist REtarded or something or do they study different economy then rest of world

 

[Spring Onion]

I find the logic strange in western countries when economy does bad ppl lower taxes, they lower borrowing cost , and lower pretty much every thing

In Pakistan , the opposite takes place ?

Are our economist REtarded or something or do they study different economy then rest of world

Dear they know how to create food security problem and so on. Its all part of the game which pays them in a big way.

You would be thinking why dont they invest in Somalia ?

 

[Spring Onion]

Besides when we agree to all their terms then i dont think we have any right to complaint.

 

[S-2]

A couple thoughts-

1.) If there's a disproportionate pct. of the nat'l wealth concentrated near the top of the society, capital gains may be a good overall thing to consider. Without research, I wouldn't know nor know to what extent those most benefited by society re-invest in such WRT Pakistan.

2.) Seems the larger issue, as I understand it, is collection combined with shelters for many-both offshore and within Pakistan. Please correct me where I've got it wrong.

Look forward to some thoughts.

Thanks.

 

[mjnaushad]

Well we accepted to increase tax and remove subsidies when we accepted IMF loan...So we are now bound to do that. No need to cry on it. And by the way most of the people dont pay tax so the govt put increased tax on those few people who pay.

 

[jha]

untill and unless people start paying taxes long term development is a dream....same problem of tax evasion in india also..

 

[EjazR]

Please try to read up on what Capital Gains tax and VAT are. This will apply mainly to the rich people in Pakistan. So the common people should not be affected by this unlike for example increasing electricity tariffs or removing food/agricultural subsidies that are also part of the usual IMF aims

 

[Moorkh]

I find the logic strange in western countries when economy does bad ppl lower taxes, they lower borrowing cost , and lower pretty much every thing

In Pakistan , the opposite takes place ?

Are our economist REtarded or something or do they study different economy then rest of world

in western countries, the economies are run primarily on private enterprises. there taxes are lowered so that the private entrepreneurs have more money to invest and thus help the economy to improve.

it might be that in pakistan (i am not sure if it is true) the economy is run to a greater degree by the government. in that case more taxes give the government more money to invest and thus help the economy.

 

[ajpirzada]

im glad such a tax was imposed. why let rich ppl not pay tax while middle income class pays every penny owed to gov?
and when your tax to GDP ratio is one of the lowest in the world (7&#37 then we are left with no option but to impose tax. i would say real estate and agricultural sector should also be brought in tax net.
if we have done it at US behest then i should probably thank them

 

[Nothing]

What is Tax slabs in Pakistan on Income ?

Just for Information............