08232017Headline:

Heated debated in the parliament on imposition of GST

Newly elected government of PML N is facing increased opposition from Jamat-e-Islami and PTI against the imposition of general sales tax announced in the budget proposal. Finance Minister Ishaq Dar announced to increase the GST to 17% in his budget speech. Opposition feels that government can increase its revenue by imposing tax on agricultural income, real estate transactions and stock market gains.

In the parliamentary debate JI walked out of the session in protest of GST. While Shah Mehmood Qureshi, Vice Chairman of PTI and Deputy Parliamentary leader in the assembly protested against collection of GST before the approval of the budget by the assembly. Former President of Pakistan Chamber of Commerce-USA and Member Advisory Committee of PTI Abdul Quayyum Khan Kundi in his statement on budget said that the government needs to increase its tax net, improve reporting of the economy and increase the efficiency of tax department to improve revenues. He welcomed the proposal of NADRA chairman to prepare profiles of 500,000 people that are evading taxes. He said this is a step in right direction.

Parliament will continue its budget debate until it is formally approved by a majority vote.

Comments

What Next?

Related Articles