New Delhi, April 12 (IANS) The World Bank, the IMF, tax consultants, and commentators frequently assert that Pakistan suffers from a “tax gap” of seven to nine per cent of GDP.This gap in the shortfall between what is collected and what the law, ideally enforced, would yield, and the metric implies that this shortfall is a result of citizens not paying the taxes that are due from them. This narrative favours the tax collector and policymaker to deflect their own mistakes and increased coercion t…
Latest Federal Bureau of Revenue News & Updates
New Delhi, March 3 (IANS) Pakistan’s high taxation regime is choking the formal economy, especially industrial businesses, yet there seems to be no realisation within the Federal Bureau of Revenue (FBR), which keeps extracting juice from the top 1 per cent of the population, according to an article.The core of the issue is that capital formation is disincentivised, as the effective tax rate, including is over 50 per cent for large manufacturing facilities, according to the article in the Karac…