AIRLINK 191.54 Decreased By ▼ -21.28 (-10%)
BOP 10.23 Decreased By ▼ -0.02 (-0.2%)
CNERGY 6.69 Decreased By ▼ -0.31 (-4.43%)
FCCL 33.02 Decreased By ▼ -0.45 (-1.34%)
FFL 16.60 Decreased By ▼ -1.04 (-5.9%)
FLYNG 22.45 Increased By ▲ 0.63 (2.89%)
HUBC 126.60 Decreased By ▼ -2.51 (-1.94%)
HUMNL 13.83 Decreased By ▼ -0.03 (-0.22%)
KEL 4.79 Decreased By ▼ -0.07 (-1.44%)
KOSM 6.35 Decreased By ▼ -0.58 (-8.37%)
MLCF 42.10 Decreased By ▼ -1.53 (-3.51%)
OGDC 213.01 Increased By ▲ 0.06 (0.03%)
PACE 7.05 Decreased By ▼ -0.17 (-2.35%)
PAEL 40.30 Decreased By ▼ -0.87 (-2.11%)
PIAHCLA 16.85 Increased By ▲ 0.02 (0.12%)
PIBTL 8.25 Decreased By ▼ -0.38 (-4.4%)
POWER 8.85 Increased By ▲ 0.04 (0.45%)
PPL 182.89 Decreased By ▼ -0.14 (-0.08%)
PRL 38.10 Decreased By ▼ -1.53 (-3.86%)
PTC 23.90 Decreased By ▼ -0.83 (-3.36%)
SEARL 93.50 Decreased By ▼ -4.51 (-4.6%)
SILK 1.00 Decreased By ▼ -0.01 (-0.99%)
SSGC 39.85 Decreased By ▼ -1.88 (-4.51%)
SYM 18.44 Decreased By ▼ -0.42 (-2.23%)
TELE 8.66 Decreased By ▼ -0.34 (-3.78%)
TPLP 12.05 Decreased By ▼ -0.35 (-2.82%)
TRG 64.50 Decreased By ▼ -1.18 (-1.8%)
WAVESAPP 10.50 Decreased By ▼ -0.48 (-4.37%)
WTL 1.78 Decreased By ▼ -0.01 (-0.56%)
YOUW 3.96 Decreased By ▼ -0.07 (-1.74%)
BR100 11,697 Decreased By -168.8 (-1.42%)
BR30 35,252 Decreased By -445.3 (-1.25%)
KSE100 112,638 Decreased By -1510.2 (-1.32%)
KSE30 35,458 Decreased By -494 (-1.37%)

A petition, seeking direction for chairman of Federal Board of Revenue (FBR) to scrutinise tax record of politicians for determining their total assets/income along with assessed amount of tax on them, was filed before the Supreme Court on Friday.
Advocate Sikandar Hayat Khan filed the petition under Article 184(3) of the constitution, which empowers the apex court to pass appropriate order in case any question of public importance is involved.
The petitioner also volunteered his services, saying that "at the time of my retirement in 1989, I was the senior most officer of the Income Tax group with best service record and training at home and abroad. I will assist the SC to find out the wealth/assets amassed by them which must be taxed in the public interest".
Describing tax evasion, the petitioner said that there are two aspects of tax evasion ie concealment of income and assets and income though declared but from unidentified means. However, in both cases it is subject to taxation. Sikandar has prayed the court for issuance of an appropriate direction to FBR chairman to protect the public revenue in national interest.
The petition says there is an impression that certain politicians had understated their assets, whereas their wives and dependent children have amassed huge assets. This requires due scrutiny by tax authorities who alone have the expertise to clarify such negative impression in public interest.
It is also desirable to have a correct valuation of the total assets of politicians as, in its absence, the burden of existing tax prayers increases because they are subjected to higher rates of taxation with a view to fill the gap between what they pay and what they ought to, the petition said.

Copyright Business Recorder, 2010

Comments

Comments are closed.