Super Tax Announced - News Summed Up

Super Tax Announced


Continuing the trend of taking tough decisions at the expense of political capital, PM Shehbaz Sharif has announced that the government will be imposing a 10 percent “super tax” on large-scale industries in order to control surging inflation. The intention to tax high earners so that more funds can be diverted towards education, health, infrastructure, skills education, and other important sectors should be applauded. The markets too have reacted negatively to this news as the Pakistan Stock Exchange (PSX) crashed minutes after the taxes were announced. As the government has explained, this is a one-time tax on large-scale industry for one year which will help raise crucial revenue. At the same time, however, the government must pursue serious measures to broaden the tax net, regardless of the political cost and friction in question.


Source: The Nation June 25, 2022 02:59 UTC



Loading...
Loading...
  

Loading...