Entrepreneurship
Heavy taxes strain entrepreneurs in Pakistan
NEW DELHI: Small and large business owners in Pakistan are currently grappling with burdensome taxation imposed by the government. The latest tax schedules, particularly affecting businesses in Karachi, have exacerbated the challenges faced by entrepreneurs. These heavy taxes further strain both big and small enterprises in an already struggling economy.
Notably, rampant inflation, substantial taxes, and administrative ineptitude in managing financial turmoil have marred Ramadan and Eid celebrations in Pakistan this year.
A journalist from Karachi, addressing the recent taxation policy, remarked that while imposing taxes on major traders may seem reasonable, burdening ordinary traders, including those in the fruit and vegetable trade, only adds to the people’s woes.
He pointed out, “it is all related to their acts of corruption, and the entire taxation system is to cover it up. The most recent tax increase raised the cost of petrol and this ultimately has increased the pressure on the income of a common citizen.”
He stated that throughout Ramadan, the government failed to provide any relief measures, while the cost of essential goods like fruits and vegetables soared due to heavy taxation. He also said that the ordinary citizens simply cannot bear such excessive tax burdens.
“The exorbitant taxes on basic necessities like fruits and utensils are pushing the general public to the brink of affordability. It’s imperative for the administration to realize that such a taxation policy is unsustainable and detrimental to the populace,” he stressed.
“Such heavy taxes on items like fruits and utensils is rendering the general public incapable of affording basic needs. It is high time that the administration understands that such a taxation policy is a burden upon the people and they will not be able to survive this very long” the journalist mentioned.
While suggesting a probable way out, the journalist mentioned that the only way out now is to make integral changes in the taxation system at a time when the country is reeling under an economic crisis.
(With inputs from agency)
Notably, rampant inflation, substantial taxes, and administrative ineptitude in managing financial turmoil have marred Ramadan and Eid celebrations in Pakistan this year.
A journalist from Karachi, addressing the recent taxation policy, remarked that while imposing taxes on major traders may seem reasonable, burdening ordinary traders, including those in the fruit and vegetable trade, only adds to the people’s woes.
He pointed out, “it is all related to their acts of corruption, and the entire taxation system is to cover it up. The most recent tax increase raised the cost of petrol and this ultimately has increased the pressure on the income of a common citizen.”
He stated that throughout Ramadan, the government failed to provide any relief measures, while the cost of essential goods like fruits and vegetables soared due to heavy taxation. He also said that the ordinary citizens simply cannot bear such excessive tax burdens.
“The exorbitant taxes on basic necessities like fruits and utensils are pushing the general public to the brink of affordability. It’s imperative for the administration to realize that such a taxation policy is unsustainable and detrimental to the populace,” he stressed.
“Such heavy taxes on items like fruits and utensils is rendering the general public incapable of affording basic needs. It is high time that the administration understands that such a taxation policy is a burden upon the people and they will not be able to survive this very long” the journalist mentioned.
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(With inputs from agency)
