Chairman special committee on Budget of Karachi Chamber of Commerce and Industry (KCCI), Qamar Usman, suggests that tax be imposed on those who live in luxury and do not pay taxes. He noted that Federal Board of Revenue (FBR) claimed that it has huge date related to those who do not pay taxes but live in luxury and suggested they should be taxed instead of taxing already burdened business community.
He pointed out 1/3 Pakistan economy is documented and 2/3 is undocumented or gray economy. He said the undocumented economy is generated through:
1: Smuggling through Afghan Transit Trade (ATT) and other boarder areas in connivance with powerful lobbies.
2: Non ax such as agriculture and many service sector areas.
3: Local business undocumented or legally allowed to operate without sales tax below 50 million Rupees and lastly rampant corruption.
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