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"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

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