PBIF says taxable income limit should be increased by 100pc
KARACHI: Chairman of National Business Group Pakistan and President Pakistan Businessmen and Intellectuals Forum (PBIF), Mian Zahid Hussain has said the limit of taxable income should be increased by at least 100 percent.
Inflation is at 35 percent while food inflation hit the mark of 47 percent, he said. Expenses of people have increased many folds, inflation and currency erosion has become uncontrollable, therefore limit of taxable income should be increased, he added.
Mian Zahid Hussain said that the salaried class plays a very important role in the country’s economy, but now the same class is currently suffering due to inflation, which should be given some relief.
Mian Zahid Hussain said that heavy taxes are being collected from the salaried class.
He said that skilled people and professionals get up to six times more salary than Pakistan in the Arab countries; therefore people are fleeing the country in record numbers.
This is an irreparable loss for the country, but our policymakers are not ready to understand the implications of this matter, he added.
Copyright Business Recorder, 2023
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