Loud Thinking August 25, 2013 at 09:01PM
JAAG PAKISTAN JAAG
WAKE UP PAKISTAN
According to the Economic Survey of Pakistan 2012-13, in the last fiscal year alone, the country provided Rs239.5 billion worth of tax breaks, mainly to influential people.
The FBR gave Rs82.3 billion worth of income tax exemptions. The sales tax exemptions stood at Rs37.5 billion which were mainly given to sugar and tractor industries. The customs duties exemptions grew to Rs119.7 billion.
But not all the exemptions can be withdrawn as many are given under international treaties, particularly on account of customs duties that are waived off or reduced under preferential and free trade agreements.
The independent power producers are enjoying income tax exemption and the country waived off Rs50 billion in the last one year alone, according to the government report.
Published in The Express Tribune, July 3rd, 2013.
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