ISLAMABAD: PTI leader Jehangir Tareen terming the budget as a traditional budget which does not bring any revolutionary change in the basic economic structure of the country.
“It is unfair on part of the government to impose restrictions on corporate sector because these people have invested a lot and they are job provider,” Tarin said at a TV programme.
He said when the government came into power, corporate tax was at 35 percent and now it is reduced to 31 percent but on the other hand the government has imposed 03 percent taxes on the richest people of the country which means that one hand, the government is decreasing tax while on the other it is also increasing to cover its deficiencies.
Dividend tax, capital gain tax and super tax are suggested in the budget to cover reduction in corporate tax which is tantamount to befool the nation, he said.
Commenting on reforms in FBR in order to expand tax net, the PTI leaders said according to NADRA report, there are 3.2 million people those are living lavishly and have more than one bank account and they are frequently traveling abroad, it is necessary on the government to bring them in the tax net.
The government is putting pressure on already taxpayers instead of including new ones which speaks volumes of the government’s failure. He said the shadow budget of PTI is focusing on decreasing of indirect taxes as it is concentrating on increasing direct taxes.
“Sales tax will be brought down from 17 percent to 12.50 percent due to which prices of daily commodities will be reduced. There is 34 percent sales tax on diesel and if it comes at 12: 50 percent, prices of petroleum will be reduced by 18 rupees per liter,” he said adding that inflation is temporary as the government proves itself by increasing salaries of the government employees in the budget of FY, 2015-16. DNA