Dawn: Tax exemption surpasses IMF loans
"ISLAMABAD, Jan 29: Over the past 54 months, the PPP-led coalition government has given tax exemptions to certain influential lobbies and the elites which amount to more than the loans acquired from the International Monetary Fund to correct the balance of payment...Between 2008 and Dec 2012, the government took loans of Rs604 billion
from the IMF and granted tax exemptions to the tune of about Rs719bn,
the Federal Board of Revenue informed the Senate on Tuesday...Less than 0.6 per cent of the 190 million people in the country pay
taxes. The National Database and Registration Authority has identified
3.8 million people who are not paying taxes."
Wow from this story I have to assume that Pakistan must be a robust and thriving economy... since as we know from the WSJ editorial page nothing spurs economic growth
like reducing taxes on the wealthiest members of society...right?
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