Opposing tax measures

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Tax collection in July fell short of the target by Rs14 billion while resistance by the business community will result in unmet targets pushing the government to squeeze existing taxpayers and increase sales tax which will hit masses. The government may opt for introducing a mini-budget which will take a toll on the masses and the only way to avoid such a desperate move is that trading community should discharge their national obligation by paying taxes. The unprecedented profits of the business community are not as important as the national interests, therefore, the businessmen should also brace for sacrifice. Some of the business leaders keep their interests above the national interests which is unpatriotic and intolerable. Some are working on their personal agenda to get relief in cases registered against them for tax evasion and other crimes.

Pakistan leads Asia in inflation outside Iran and further tax measures will be unfortunate therefore the business community should come forward and sacrifice for the greater good. The business community is resisting tax measures which amount to playing with the fate of the country. The retail sector is almost 20 percent of the GDP while tax collected from this sector is insignificant which must be improved to ensure national development. Those fanning agitation to avoid taxes are not well-wishers of the country and they should be dealt with according to the law.

To tackle the issue amicably, the Federal Board of Revenue (FBR) has introduced the draft of fixed tax scheme for small traders for their input/suggestions, which was also available on its website in Urdu and English and those small traders who were currently not in the tax net, must benefit of this scheme to become taxpayers and play more effective role in the economic development of the country. By availing fixed tax scheme, small traders would not be subjected to audit process and would also get rid of many tax related issues.

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