Dawn News

March, 02 2015
e-paper

FINANCE Minister Ishaq Dar has, instead of expanding the tax base by taxing agriculture etc, taxed the already taxed. All over the world mutual funds are a vehicle for savings, primarily for retail investors.

In Pakistan, which has one of the lowest savings ratios in the world, the government has allowed a tax credit to retail investors by investing in mutual funds.

Contrary to his statement about simplification of tax returns, this process has been made more cumbersome, as now the investors will have to claim it directly from the FBR. We all know about the efficiency level of the FBR. To add insult to injury, the budget has recommended 16pc FED on top of the 16pc provincial sales tax. It amounts to double taxation. Such measures may sound like the death knell of this fledgling industry.

ARSHAD HUSSAIN Karachi


Email news tips and feedback to News Desk, submit blogs to Blog Desk and share photos and Videos with Special Projects Desk.

More From This Section

Lee Kuan Yew’s illness

A REPORT says the founding prime minister of Singapore, Lee Kuan Yew, 91, has been sick with severe pneumonia and is...

Moin Khan scandal

MOIN Khan’s casino controversy has added insult to injury. It came at a time when our team is already performing...

The downfall of cricket

SITTING alone and watching cricket matches, in the wilderness of a foreign country, with the hope that our national...

Comments (1) Closed




Shahid
Jun 23, 2013 08:26pm

This was the experience PLMN was boosting about. They have the experience of ruining the counytry's economy. Now the Lion was been voted into the office, the people must bear its roar as well.