The quarterly revenue shortfall has surpassed one hundred billion rupees which can be bridged through imposing tax on agricultural income, a business leader said Saturday.
There is a need to take proper steps to expand tax net and bring agricultural income into it to help country stand on its feet, said Shahid Rasheed Butt former President ICCI.
He said that masses and the business community should not be burdened with regressive taxation to cover shortfall.
Shahid Rasheed Butt said that taxing rural nobility can make country self-sufficient so that it can make policies aimed at national development.
He said that rural elite can spend a lavishly in elections but would avoid paying taxes while the federal and provincial governments have never shown any interest in taxing this segment.
The business leader said that the sector having 19.2 percent share in GDP contributes only two billion rupees as tax which is not acceptable.
He said that business community will stop opposing tax measures if all the sectors of economy are properly taxed.—INP