While we hear a multitude of arguments by the government to safeguard the interests of the public, it is utterly disappointing to observe that the government is doing otherwise. Middle-class is being squeezed in a corner and rich are becoming richer. Laws are being made without consultation from the affected group.
You do not utterly have to be a genius to comprehend a simple fact that it is the middle class that indirectly affects the poor man’s condition. Businesses belonging to the middle class are far greater in number than those associated with the upper class. These businesses employ far greater workforce than any other group. Exerting undue pressure on the already struggling middle-class has made it difficult to make ends meet.
FBR’s decision to raise withholding tax on bank deposits from 10% to 15% has made it difficult for us to survive in this ever-changing inflation-induced economy. While the decision had been made last year, it was not duly enforced until the start of current fiscal year. To add to the misery, FBR is asking taxpayers to pay a retrospective tax of 5% from last year that had not been paid.
The reason taxpayers did not pay the 5% back taxes was that no one knew about the new law. This has put undue pressure and financial burden on an already struggling middle-class segment. It is respectfully requested from the government that the increase of 5% taxes be curtailed and back taxes not demanded from the already volatile middle-class of Pakistan.
MADNI,
Lahore.