Finance Minister: High Income Earners Should Face No Objection to Additional Taxes
Federal Finance Minister Muhammad Aurangzeb addressed a post-budget press conference, affirming the need to impose higher taxes on high-income individuals. He emphasized the importance of these measures and expressed that they should be accepted without objection.
During the conference, Aurangzeb faced questions from journalists regarding increased taxes on the salaried class. Despite these concerns, he remained steadfast in advocating for a broader tax base. He argued that expanding the tax base is critical for Pakistan’s economic stability and growth.
The minister also highlighted the government’s commitment to digitalizing the economy, aiming to reduce corruption and enhance transparency in financial transactions. This digitalization initiative is seen as pivotal for modernizing Pakistan’s financial systems and ensuring equitable tax collection.
This marks the first time drones have completed round-trip transportation of equipment and waste between Everest Base Camp and Camp 1, separated by the perilous Khumbu Icefall, a hazardous stretch during the ascent. Helicopters, while capable in theory, are rarely used due to high risks and costs.
He further noted the government’s decision to raise the tax rate for non-filers, underscoring its determination to increase tax compliance and ensure equitable contribution to national revenue.
Aurangzeb emphasized Pakistan’s substantial freelancer community and the importance of the IT sector. He stressed that digitalizing tax systems is crucial for combatting tax evasion and supporting the growth of freelancers.
The minister concluded by highlighting the IT sector’s significance to the economy, stating that modernizing tax collection will ensure its proper contribution to the national treasury.
