AIRLINK 196.10 Increased By ▲ 4.26 (2.22%)
BOP 10.17 Increased By ▲ 0.30 (3.04%)
CNERGY 7.91 Increased By ▲ 0.24 (3.13%)
FCCL 38.41 Increased By ▲ 0.55 (1.45%)
FFL 16.06 Increased By ▲ 0.30 (1.9%)
FLYNG 25.48 Increased By ▲ 0.17 (0.67%)
HUBC 130.90 Increased By ▲ 0.73 (0.56%)
HUMNL 13.85 Increased By ▲ 0.26 (1.91%)
KEL 4.67 No Change ▼ 0.00 (0%)
KOSM 6.32 Increased By ▲ 0.11 (1.77%)
MLCF 45.34 Increased By ▲ 1.05 (2.37%)
OGDC 210.10 Increased By ▲ 3.23 (1.56%)
PACE 6.67 Increased By ▲ 0.11 (1.68%)
PAEL 41.24 Increased By ▲ 0.69 (1.7%)
PIAHCLA 17.80 Increased By ▲ 0.21 (1.19%)
PIBTL 8.15 Increased By ▲ 0.08 (0.99%)
POWER 9.42 Increased By ▲ 0.18 (1.95%)
PPL 181.25 Increased By ▲ 2.69 (1.51%)
PRL 40.25 Increased By ▲ 1.17 (2.99%)
PTC 24.69 Increased By ▲ 0.55 (2.28%)
SEARL 110.78 Increased By ▲ 2.93 (2.72%)
SILK 0.99 Increased By ▲ 0.02 (2.06%)
SSGC 38.73 Decreased By ▼ -0.38 (-0.97%)
SYM 19.25 Increased By ▲ 0.13 (0.68%)
TELE 8.70 Increased By ▲ 0.10 (1.16%)
TPLP 12.39 Increased By ▲ 0.02 (0.16%)
TRG 66.30 Increased By ▲ 0.29 (0.44%)
WAVESAPP 12.48 Decreased By ▼ -0.30 (-2.35%)
WTL 1.70 No Change ▼ 0.00 (0%)
YOUW 3.99 Increased By ▲ 0.04 (1.01%)
BR100 12,097 Increased By 166.3 (1.39%)
BR30 36,124 Increased By 464.1 (1.3%)
KSE100 115,071 Increased By 1864.8 (1.65%)
KSE30 36,177 Increased By 611.8 (1.72%)

"Ishaq Dar is one smart cookie."
"Indeed there are sayings in our part of the world that a man can tell his brother, friends nay even long terms political loyalists off but not a samdhi (fathers of a married couple) and especially the man whose daughter is married to the son of the samdhi if you know what I mean."
"Don't be stupid, that's not what I was referring to. And need I add I take exception to that comment."
"But it is the truth."
"Yes, the Prime Minister and his deputy are samdhis but that is not the reason why Dar sahib is a smart cookie in my book."
"Maybe you need to write a sequel..."
"I am going to take you to court for defamation..."
"But what have I said that is not true?"
"Stop it...anyway when I was saying Dar sahib is a smart cookie I meant it was smart of him to raise the reliance on withholding taxes as components of direct taxes to more than 70 percent..."
"But withholding taxes are not always direct taxes and besides filers pay less and non filers pay more."
"Precisely and that's where he comes out as so smart. Nearly all withholding agents have no means of determining who is a filer and who is not a filer so we all pay withholding taxes; and given that in most individual cases request for refunds has a cost higher than the refund itself even for filers like us we allow the government to pocket it."
"What cost?"
"The cost of filling forms which all ye Pakistani accountants and tax consultants must take as a special boost given to their business by Dar sahib ..."
"Oh dear!"
"And then the Federal Revenue Board has the terms of reference to slow down all refunds but some may be convinced to expedite the process through some cash transactions..."
"That are not subject to withholding tax!"
"I give up - you are being too facetious today."

Copyright Business Recorder, 2015

Comments

Comments are closed.