Islamabad (26 June, 2019): Advisor Finance to Prime Minister Abdul Razzaq Dawood says we have always run after revenue, not industrial development.
According to Baaghi TV’s sources, Advisor of Finance to PM Imran Khan, Abdul Razzaq Dawood while addressing the National Assembly (NA) said that Pakistan has always run after revenue instead of industrial development.
He continued to question the need for returning sales tax stating that the methodology of imposing tax on local sales should be evolved.
Dawood stated that according to FBR, it is difficult to impose a tax on local sales, due to which FBR has opposed to eliminate zero rating. He furte discussed that increasing tax from 0% to 17% will cause problems which is why FBR has opposed it, however, since IMF has asked to eliminate the zero rating, Finance Ministry has extended its assurance for it.
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