• Home
  • E-Paper
  • Archive
  • Contact us
  • Daily Pakistan
Tuesday, January 19, 2021
  • Login
No Result
View All Result
Daily The Patriot
  • Home
  • Top Stories
  • National
  • City
  • World
  • Sports
  • Technology
  • Editorial
  • Opinion
  • E-Paper
  • Home
  • Top Stories
  • National
  • City
  • World
  • Sports
  • Technology
  • Editorial
  • Opinion
  • E-Paper
No Result
View All Result
Daily The Patriot
No Result
View All Result
Home Editorial

Increased taxes

by Daily Patriot
December 2, 2015
in Editorial
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Claims of government fall flat regarding country’s economic recovery as it has decided to increase the import duty by 10 percent on 313 items. According to government these items fall in the category of ‘luxury goods’ but list also includes cheese, butter, shampoos. An additional one percent customs duty has been imposed on all imports.

It is a reality that Federal Board of Revenue has failed to increase the tax net by implementing direct tax and all the focus is on increasing indirect taxes. Earlier, addressing in the IMF review meeting, Finance Minister Ishaq Dar claimed that government is not going to impose new taxes on the public, but analysts were speculating that government would increase tax. On Monday speculations  become reality and Economic Coordination Committee of the cabinet met to approve around Rs 40 billion worth of new taxation proposals.

The governments failure of direct taxation has lead it to bring a new mini-budget. FBR always find ways to meet its targets by imposing indirect taxes. These taxes have proved that country’s financial affairs are being run on ad-hoc taxation to bring makeshift financial stability. Ishaq Dar’s tall claims of taking the ship of economy out of troubled waters fall flat. Government has come up with another small budget after almost five months of Budget 2015-16, which indicates that government has completely failed to come up with a reasonable budget in June. Government is already in negotiations with traders over withholding taxes and now more it finds easy target by implementing indirect taxes.

Only good news is that these taxes mean that the government has not increased the price of petroleum products further. It has become clear that the IMF was promised that Rs 40 billion would be collected through tax measures before November 30.

FBR has failed to increase the tax net by implementing direct tax and all the focus is on increasing indirect taxes.

Daily Patriot

Daily Patriot

Next Post
Martyred Military Police personnel to be laid to rest today

Martyred Military Police personnel to be laid to rest today

Latest News

Second wave is seem to be most dangerous
Editorial

Second wave is seem to be most dangerous

by Daily Patriot
January 19, 2021
0

While the second wave may be in full swing in Sindh and Punjab, it seems to have slowed down in...

Read more
Samsung Sets New Standard for Flagship Mobile Processors with Exynos 2100

Samsung Sets New Standard for Flagship Mobile Processors with Exynos 2100

January 18, 2021
Historic K2 team make it back safely to base camp

Historic K2 team make it back safely to base camp

January 18, 2021
PM Imran took ‘mother of NROs’ in foreign funding case, says Fazl ahead of PDM march to ECP

PM Imran took ‘mother of NROs’ in foreign funding case, says Fazl ahead of PDM march to ECP

January 18, 2021
Pakistan wants to further strengthen relations with Vietnam: President

Pakistan wants to further strengthen relations with Vietnam: President

January 18, 2021
  • Home
  • Top Stories
  • National
  • City
  • World
  • Sports
  • Technology
  • Editorial
  • Opinion
  • E-Paper

© 2020 DAILY PATRIOT - Powered By SmartX DigitalSMARTX DIGITAL.

No Result
View All Result
  • Home
  • Top Stories
  • National
  • City
  • World
  • Sports
  • Technology
  • Editorial
  • Opinion
  • E-Paper

© 2020 DAILY PATRIOT - Powered By SmartX DigitalSMARTX DIGITAL.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Go to mobile version