02-17-2009, 11:35 PM
Dear,
Quite some time in past I read K.K.Dewit's book on economics in my B.Com.
There had been a topic on CANONS OF TAXATION. One may find this topic in other such books.
Anyways! This just came to my mind after seeing your last post.
Buddy, kids who purchase the cards are not the earning hands. Rather they get such money from elders who are in fact the earning hands. All over the world taxation is imposed through two routes i.e.direct taxes and indirect taxes. You may be knowing but are advised to study in detail which economy needs which sort of taxation.
Last FBR chairman, during a seminar, explained how the proportion of direct taxes has been enhnaced and indirect taxes has been reduced in Pakistan over the period. This is a long debate and the concept behind imposing such hidden indirect taxes has to be understood after studying the fiscal and monetary policies, attitudes, norms and level of civilization.
The need of the hour is to educate the people and understand what rights and obligations we have. The day our larger proportion will understand it the ratio of indirect taxes to direct ones will eventually come to zero.
You might have noticed the abolishment of section 113, minimum tax @0.5% on tunrover in case of declaring loss. Things take time to get to the right destinations. Enforcers have their own limitaions, face so many obstacles and last but not least are in fact not up to the mark in addressing all the issues assiduously and simultaneously.
Regards,
KAMRAN.
Quite some time in past I read K.K.Dewit's book on economics in my B.Com.
There had been a topic on CANONS OF TAXATION. One may find this topic in other such books.
Anyways! This just came to my mind after seeing your last post.
Buddy, kids who purchase the cards are not the earning hands. Rather they get such money from elders who are in fact the earning hands. All over the world taxation is imposed through two routes i.e.direct taxes and indirect taxes. You may be knowing but are advised to study in detail which economy needs which sort of taxation.
Last FBR chairman, during a seminar, explained how the proportion of direct taxes has been enhnaced and indirect taxes has been reduced in Pakistan over the period. This is a long debate and the concept behind imposing such hidden indirect taxes has to be understood after studying the fiscal and monetary policies, attitudes, norms and level of civilization.
The need of the hour is to educate the people and understand what rights and obligations we have. The day our larger proportion will understand it the ratio of indirect taxes to direct ones will eventually come to zero.
You might have noticed the abolishment of section 113, minimum tax @0.5% on tunrover in case of declaring loss. Things take time to get to the right destinations. Enforcers have their own limitaions, face so many obstacles and last but not least are in fact not up to the mark in addressing all the issues assiduously and simultaneously.
Regards,
KAMRAN.
